China regulator delays review of Rio Tinto lithium project

Investing.com -- China's antitrust regulator has delayed its review of a lithium project involving Chile's state-run ENAMI and miner Rio Tinto by several months, ENAMI's executive vice president said Thursday.

Juan Carlos Saez told lawmakers that the approval, initially expected in July or August, will now be delayed by a few more months. Once the Chinese regulator grants approval, ENAMI will move forward with Rio Tinto to develop the Salares Altoandinos project.

The project requires an estimated investment of more than $3 billion. ENAMI expects the initiative to begin operations in 2032 with an annual output of 35,000 metric tons. Production is projected to increase gradually to 75,000 tons over three years.

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