Mining giant Rio Tinto has put its foot on vast tracts of land close to prized lithium assets in WA: Kathleen Valley and Mt Ida.
Rio Tinto has quietly entered the lithium land grab unfolding in Western Australia as it looks to secure its future in battery minerals, racking up exploration tenements spanning more than 145,000 hectares in the red-hot jurisdiction that has minted billionaires and fanned takeover battles.can reveal that Rio has claims covering more than 61,000 hectares close to the Kathleen Valley lithium project being developed by $6.6 billion takeover target Liontown Resources.
One of the tenement packages covers about 40,000 hectares, and is near Sandstone, where Rio has an existing partnership with ASX-listed lithium hopeful Everest Metals. Rio lodged several tenement applications in August last year and has expanded on this work with further applications made this year. “So far it is ticking all the boxes. Of course, you’ve got to drill holes and that’s what we’re going to do, and so we’re pretty excited about that,” Mr Durack said. “We started looking at all that lithium because of the region that we’re in.”
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