10:28 AM EDT, 03/13/2026 (MT Newswires) -- Rio Tinto (RIO) is slowing construction of the Nemaska Lithium processing plant in Quebec weeks after taking majority control of the project, Bloomberg News reported Friday, citing people familiar with the matter.

Several contractors will halt work in the coming weeks due to rising costs, leaving only a minimal workforce on site, with construction expected to fully restart in 2027.

The company is also assessing whether its Galaxy hard-rock lithium development or Nemaska's Whabouchi mine has greater potential ahead of a decision expected in H1, according to the report.

Rio Tinto did not immediately respond to MT Newswires' request for comment.

Shares of Rio Tinto were down 1.3% in Friday trading.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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