What Happened
Rio Tinto (RIO) said it has gained majority control of Canada’s Nemaska Lithium, lifting its ownership to 53.9% and moving into direct management of the business. The Government of Quebec holds the remaining 46.1% stake.
The move advances Rio Tinto’s plan to build an integrated lithium business in Quebec, tying together upstream mining and downstream chemical processing aimed at supplying the North American electric vehicle market.
- Rio Tinto ownership: 53.9% (management control)
- Government of Quebec ownership: 46.1%
- Partnership has involved ongoing investment since March 2025
Why The Deal Matters for Lithium Supply Chains
Integrated supply chains have become a strategic focus in lithium, where miners and processors are trying to reduce bottlenecks between ore extraction and battery-grade chemicals. In Quebec, Rio Tinto’s strategy centers on building a full pathway “from mining raw ore to chemical processing.”
Nemaska Lithium’s assets span both ends of that chain, including a lithium hydroxide facility in Becancour and the Whabouchi spodumene mine in the Eeyou Istchee James Bay region. That combination is core to Rio Tinto’s push to position itself as a more complete supplier rather than a single-step producer.
- Becancour: lithium hydroxide plant under development
- Whabouchi: spodumene mine in Quebec
- Strategic emphasis: integrated mining-to-chemicals platform
- Target end-market: North American EV supply chain
Funding Commitments And Timeline
Rio Tinto said the partners will continue to fund the project, including the Becancour lithium hydroxide plant, with first production expected in 2028.
On funding, Quebec said it will invest up to an additional $200 million in Nemaska Lithium through share subscriptions. Rio Tinto also referenced an investment of more than $300 million in 2026 to further develop its lithium sector in the province.
The practical takeaway is that the project remains in a build-and-fund phase rather than a near-term production story, which makes execution milestones especially important as the timetable stretches toward 2028.
- Quebec: up to $200 million additional investment via share subscriptions
- Rio Tinto: investment of more than $300 million in 2026 tied to lithium development in Quebec
- Expected first production: 2028
How Rio Tinto Got Here
Rio Tinto’s position in Nemaska Lithium traces back to its acquisition of Arcadium in March 2025, which included a 50% interest in Nemaska Lithium. The latest step takes that to a controlling stake and shifts management directly to Rio Tinto.
For investors, the key change is governance: majority ownership typically tightens operational control and can speed decision-making on capital allocation, contracting, and build-out priorities.
What Investors Will Watch Next
The market focus now turns to execution: the pace of construction and funding for the Becancour plant, and how the partnership maintains its schedule toward 2028 first production. For U.S. investors, progress on an integrated North American lithium supply line is the main strategic thread to track.
WSA Take
Rio Tinto (RIO) taking 53.9% of Nemaska Lithium is a control move, not a quick-volume story. The assets in Quebec give Rio Tinto a clearer shot at a mine-to-chemicals platform, with the Becancour hydroxide plant central to the value proposition. The timeline still points to 2028 first production, so near-term attention will stay on funding steps and build milestones rather than immediate sales. If the project stays on schedule, it strengthens Rio Tinto’s positioning in lithium chemicals tied to the North American EV supply chain.
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Disclaimer
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