Rio Tinto Group will slow construction of the Nemaska Lithium processing plant in Becancour, Quebec, just weeks after taking majority control of the project. The mining giant announced the decision as costs have surged beyond initial projections, forcing a reassessment of the timeline for the critical lithium facility.

The lithium processing plant represents a key component of Rio Tinto's strategy to secure battery materials for the electric vehicle market. The company recently acquired majority ownership of Nemaska Lithium, positioning itself to control both mining and processing operations in the region. Quebec's lithium resources are considered among North America's most promising for battery production.

The decision to slow construction signals significant cost pressures in the lithium processing sector. While Rio Tinto hasn't disclosed specific cost overruns, the move suggests the project's economics have deteriorated since the acquisition. The slowdown could delay the plant's contribution to Rio Tinto's battery materials portfolio and potentially impact North American lithium supply chains.