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Rio Tinto Ltd has struck a landmark deal with Chilean state miner Codelco to jointly develop a high-grade lithium project in the Salar de Maricunga, tapping further into the intensifying global race for critical minerals. Under binding agreements announced today, Rio will acquire a 49.99% stake in Salar de Maricunga SpA – the Codelco-owned entity holding licences and concessions in the lithium-rich salt flat – by funding up to US$900 million across project studies and development stages.
