Rio Tinto in talks with DRC to develop lithium deposit [Yahoo! Finance]
Rio Tinto Plc (RIO)
US:NYSE Investor Relations:
riotinto.com/investors-87.aspx
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Source: Yahoo! Finance
The negotiations, which have taken place in recent weeks, revolve around the possibility of Rio Tinto transforming the Roche Dure deposit into a lithium mine, said sources familiar with the matter. The outcome of these talks remains uncertain as the discussions are in the early stages. The DRC is seeking to attract Western investment to counterbalance Chinese dominance in its mining industry. The country is also exploring a minerals-for-security deal with the US to support its fight against regional insurgencies in its eastern provinces. The Roche Dure lithium deposit, initially identified by Australian company AVZ Minerals, has attracted interest from multiple parties. The deposit is estimated to hold mineral resources of 400 million tonnes at 1.65% lithium oxide, 715 parts per million (ppm) of tin and 34ppm of tantalum, as of May 2019. Located near the Manono lithium project in south-eastern Congo, the licence is currently subject to arbitration proceedings initiated by
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