Rio Tinto plc (LON:RIO, ASX:RIO) may become the largest US producer of battery-grade lithium carbonate if it finds an economic way to produce it from its Californian waste rock.
The miner was looking for gold in waste rock at its Boron site but had a “eureka moment” instead when tests revealed high grades of lithium.
READ: Rio Tinto iron ore production on the rebound[hhmc]
Now the FTSE 100 group's challenge is to how to extract it economically and achieve commercial scale production.
“The material being used has already been mined, so this will be a low energy option for the production of lithium,” said Bold Baatar, Rio's energy & minerals boss.
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