REG - Green Lithium Rio Tinto - Green Lithium & Rio Tinto commercial partnership

Rio TintoAnnouncement

01/10/2024 07:00

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RNS Number : 3051G  Green Lithium Refining Limited  01 October 2024

Green Lithium and Rio Tinto take initial step to develop lithium supply chain commercial partnership
 

Tuesday, 1 October 2024

London, United Kingdom: Green Lithium, the UK-based, low-carbon lithium
refinery developer, has today announced the signing of a memorandum of
understanding to develop a lithium supply chain commercial partnership with
Rio Tinto, the global metals processing and mining company.

This agreement marks another step for both parties as they look to play a
crucial role across the fast-evolving European battery metals value chain.
Ultimately, the parties share the vision of building an end-to-end value chain
that provides security of supply to safeguard the UK's and EU's automotive and
battery manufacturing industries.

 

Sean Sargent, Chief Executive Officer of Green Lithium, said:

"The EV and battery revolutions are fundamental to reducing the carbon
emissions that contribute to global climate change. By building our
refineries, we will accelerate the adoption of EVs and sustainable energy
storage through the increased supply of low-carbon, battery-grade lithium
chemicals. Fulfilling this vision requires the right partners, and in Rio
Tinto we have found an exceptional potential commercial partner."

 

Philippe Bourdages, Vice President in Minerals Sales at Rio Tinto, said:

"Rio Tinto and Green Lithium share ambitions related to decarbonisation and
today's announcement is an important step forward in our journey towards
unlocking the end-to-end battery metals supply chain in Europe. Alongside
Green Lithium, we are looking to supply the global rollout of green battery
technology to feed the significant European market demand."

 

Sarah Jones MP, UK Government Minister for Industry and Decarbonisation, said:

"This is great news for Green Lithium and Rio Tinto and will not only support
high-skilled jobs in the North East but boost our critical minerals supply
chains as we continue to build a cleaner, greener future for our automotive
industry and drive forward our mission to net zero."

 

Fundraising contacts

Green Lithium is raising capital from corporate/institutional investors. To
register interest, please contact a member of the deal team at its lead
adviser Stifel Nicolaus Europe.

·      Varun Talwar, European Head of Metals & Mining:
varun.talwar@stifel.com (mailto:varun.talwar@stifel.com)

·      Alex Boyce, Head of Capital Solutions: alex.boyce@stifel.com
(mailto:alex.boyce@stifel.com)

·      George Moore-Gwyn, Director in Capital Solutions:
george.moore-gwyn@stifel.com (mailto:george.moore-gwyn@stifel.com)

 

ENDS

About Rio Tinto

Rio Tinto is one of the world's leading metals and mining companies with a
global workforce of over 49,000 and an extensive portfolio of operating assets
spanning across Australia, Asia, North and South America, Europe and Africa.
Rio Tinto's minerals product group provides materials essential to a wide
variety of industries, ranging from agriculture to renewable energy and
electric vehicles. The company produces high-grade, low-impurity iron ore
pellets and concentrate, titanium dioxide and borates from operations in
Africa, Canada and the US, and has a growing presence in other battery metals,
including lithium.

For more information, please contact: media.enquiries@riotinto.com
(mailto:media.enquiries@riotinto.com)

riotinto.com (http://www.riotinto.com)

 

About Green Lithium

Green Lithium Refining Limited (Green Lithium) is an innovative mineral
processing company with plans to build and operate a large-scale lithium
refinery in the Teesside, United Kingdom, and provide high-purity lithium
chemicals to the UK and EU markets. The company will harness industry-leading
process technology enabling clean, low-carbon processing of high volumes of
hard-rock, unrefined lithium mineral spodumene concentrate. At present, the
battery-metal supply chain is dominated by East Asia. There is no refining
capability in Europe despite a significant market opportunity. Working with
key strategic partners to address the need to improve the European
battery-metal supply chain, Green Lithium will support the low-carbon
ambitions of society to transition to the future green economy.

For more information, please contact: communications@greenlithium.co.uk
(mailto:communications@greenlithium.co.uk)

greenlithium.co.uk (http://www.greenlithium.co.uk)

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