20 January 2025
20 January 2025
Key to this effort is the introduction of a new Green Aluminium Production Credit.
The sale process has attracted interest from various international bidders.
The new Rio Tinto Lithium unit will manage the $2.5bn Rincon project in Argentina.
The designation follows a thorough evaluation by government agencies including the Ministry of Trade, Industry and Energy, and the Ministry of Economy and Finance.
The updated MRE was commissioned by Victory Metals and completed by MEC this month.
Saudi Arabia is actively seeking critical minerals such as copper and lithium to develop its battery and EV manufacturing sector.
Competing with China's low-cost production and established supply chain remains a significant hurdle.
The company is reportedly in discussions with banks regarding the potential issuance, with a decision expected later in 2025.
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