Codelco and Rio Tinto to form a joint venture.

Codelco, a Chilean state-owned copper mining company, and Rio Tinto, a metals and mining corporation, agreed to form a joint venture. “This process, which has been extraordinarily competitive, demonstrates the strategic value of lithium as a critical mineral, Codelco's prestige as a partner, and the attractiveness of our country as an investment location. The Codelco team has done a tremendous amount of work, involving various activities, such as visits to the Maricunga Salt Flats, presentations to interested parties, and ongoing responses to requests for information and questions,” Máximo Pacheco, Codelco Chairman of the Board.