Rio Tinto signs earn-in deal for lithium in Rwanda CriticalMinerals EVSupplyChain mining Africa
Kinunga Mining, a subsidiary of exploration and development company Aterian, has signed a definitive earn-in investment and joint venture agreement with diversified miner Rio Tinto.
It will also make cash payments to Aterian, totalling $300 000, to reimburse previous operational expenses incurred by Aterian. An initial payment of $200 000 is due upon completion of satisfactory due diligence by Rio, and an additional payment of $100 000 will be due at the start of Stage 2. “Under the terms of the agreement, Rio also has an exclusivity option to invest into Aterian’s two other existing Rwandan projects, which will be subject to their own separate agreements.
Bray points out that lithium is a key commodity for global electrification ambitions, as it is the central chemical element of dominant battery chemistries.
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