Rio Tinto shares surged over 2% after acquiring a 53.9% stake in Canada’s Nemaska Lithium, marking a strategic push to dominate North American lithium production. The UK-Australian miner plans to build an integrated supply chain in Quebec, from mining to battery-grade lithium processing, targeting the booming electric vehicle (EV) market. Quebec’s government invested an additional $200 million, securing a 46.1% share in Nemaska. This move accelerates Rio’s five-year lithium expansion, aligning with global demand for EV batteries. $300 million in Rio’s 2026 investment underscores its commitment to lithium as a critical growth driver.