04:03 PM EDT, 05/22/2025 (MT Newswires) -- Rio Tinto (RIO) said Thursday it has been selected as the preferred partner for the Salares Altoandinos lithium project in Chile's Atacama region by state-owned Chilean mining company Empresa Nacional de Mineria.

The proposed deal gives Rio Tinto a 51% ownership in the project, while ENAMI will retain a 49% stake, the company said.

The agreement is not yet final and still depends on signing formal contracts, receiving regulatory approvals, and meeting standard closing conditions.