Global miner Rio Tinto will tackle one of the biggest technological challenges in the lithium industry as it takes the lead in Chile's first major projects involving the battery metal in years, alongside state-run mining companies Codelco and ENAMI.

Rio Tinto has signed binding agreements with Chilean state-owned copper mining company Codelco to establish a joint venture (JV) to develop the Salar de Maricunga lithium project in Chile by investing up to $900m (£672.

Rio Tinto and Corporación Nacional Del Cobre de Chile ("Codelco") have signed binding agreements to form a joint venture to develop and operate a high-grade lithium project in the Salar de Maricunga in Chile.