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Allkem Limited, known as Orocobre Limited until 30 November 2021,[1] is an Australian mining company. Allkem's portfolio includes lithium brine operations in Argentina, a hard-rock lithium operation in Australia and a lithium hydroxide conversion facility in Japan. Allkem was cross-listed on the Australian Securities Exchange and Toronto Stock Exchange. In May 2023, Allkem agreed terms to merge with Livent.[2] In January 2024, Allkem and Livent merged to form Arcadium Lithium.[3]

Key Information

Projects

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Salar de Olaroz

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The Salar de Olaroz is a salt lake in the province of Jujuy in northwestern Argentina, close to the Chilean border. The project consists of 63,000 hectares of tenements over a salar known to contain high values of lithium and potash in brine. In October 2012, Orocobre and Toyota Tsusho Corporation (TTC) executed a definitive joint venture agreement to develop the Olaroz Lithium Project. Earlier in the year, in June 2012, Orocobre had entered into an agreement with Jujuy Energia y Mineria Sociedad del Estado (JEMSE), a mining investment company owned by the provincial Government of Jujuy, whereby JEMSE will hold an equity interest in the Olaroz project and in return provide assistance during its development.

Results from a definitive feasibility study (DFS) released May 3, 2011 suggest that the Olaroz project has a large resource base of 6.5 million tonnes of lithium carbonate equivalent with a project mine life estimated at 40 years. The design capacity of the Olaroz operation has been increased to 17,500 tonnes per annum (tpa) of battery grade lithium carbonate, from 16,400 tpa originally provided for in the DFS. Expected potash recovery has also been increased to approximately 20,000 tpa compared to 10,000 tpa. Potash operations are not currently included in the immediate project plans or economics at this time, but are said to be considered in future development phases.

Mt Cattlin

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The open-pit mine and concentrator is located approximately two kilometres north of Ravensthorpe in the Great Southern region of Western Australia. Operations recommenced at Mt Cattlin in late 2016, producing high-quality spodumene concentrate that is qualified in the lithium supply chain globally.

Mt Cattlin is a low-cost spodumene producer utilising conventional techniques to extract and process the resource.

Naraha

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The Naraha Lithium Hydroxide Plant (Naraha), the first of its kind to be built in Japan, is designed to convert primary grade lithium carbonate feedstock into purified battery grade lithium hydroxide. The lithium carbonate feedstock of ~9,500tpa will be shipped from Olaroz.

Allkem has a 75% economic interest in the Toyotsu Lithium Corporation (TLC) joint venture with partner Toyota Tsusho Corporation (TTC) who retains operational control.

Sal de Vida

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The tier 1 brine project is located in Catamarca Province on the Salar del Hombre Muerto, ~1,400km northwest of Buenos Aires, Argentina and ~200km from Allkem’s flagship Olaroz Lithium Facility. Catamarca is a proven mining jurisdiction, home to several successful mining operations and development projects.

Sal de Vida is a globally competitive project with superior brine chemistry that readily upgrades to battery grade lithium carbonate.

James Bay

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Located in northern Québec, approximately 130 km east of James Bay and the Cree Nation of Eastmain community. Québec is a highly attractive investment destination for lithium production due to its supportive resource development sector, access to skilled labour and its proximity to high-growth electric vehicle markets in North America and Europe.

Allkem is proposing to develop the James Bay Project as a sustainable, hard-rock operation, maximising the usage of renewable energy and utilising spodumene expertise gained from its successful Australian operation, Mt Cattlin.

Cauchari

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The Salar de Cauchari lithium-potash resource, owned by South American salar Minerals Pty Ltd, has over 30,000 ha in Jujuy province immediately south of the Olaroz Project. The Cauchari project has similar geo-chemical characteristics to the Olaroz resource and provides a nearby additional brine source for future expansions of the planned Olaroz production facility at relatively low incremental capital cost.

Borax Argentina

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Orocobre acquired Borax Argentina S.A. (Borax Argentina), a long established Argentine boron (or borate) minerals and refined chemicals producer, in August 2012 from Rio Tinto. Borax Argentina owns one of only a few important borate deposits globally that are in production.

Borax Argentina operate three open pit mines in Tincalayu, Sijes, and Porvenir located within the Jujuy and Salta Province in Northern Argentina. Borate mining operations have been undertaken in the area for over 50 years with a recent announcement by Ororocbre suggesting a positive outlook for future mining operation with the presence of long-life high quality ore reserves.

Currently, Borax Argentina's operations produce a variety of boron chemical products, including boric acid, borax decahydrate, borax pentahydrate, anhydrous borax and boroglas from concentrates and ulexite minerals carted from the mines and concentrators. In addition, the mine and concentrator at Sijes produce mineral concentrates for direct sale.

On 1 July 2013 Orocobre announced the relocation of the borax chemical plant from its location in Campo Quijano (close to the city of Salta) to the Tincalayu mine site. The relocation of the borax chemical plant is said to have significant financial benefits for the company through a reduction of both operating and logistics cost. The relocation project is said to be completed by the end of June 2014 within a budget cost of US$3.7m.

In December 2022 Allkem Limited completed the sale of Borax Argentina to Golden Wattle Springs and has acquired the María Victoria lithium tenement from Minera Santa Rita.

References

[edit]
Revisions and contributorsEdit on WikipediaRead on Wikipedia

Allkem

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from Grokipedia
Allkem Limited was an Australian-based multinational company specializing in the production of specialty lithium chemicals and borates for use in electric vehicles, , and industrial applications. Formed on 25 August 2021, through an all-stock merger of equals between Orocobre Limited and Galaxy Resources Limited, Allkem combined established lithium brine and hard-rock expertise to become a key player in the global . The company was listed on the Australian Securities Exchange (ASX: AKE) and (TSX: AKE), with its corporate headquarters in , , , and primary operational headquarters in , . Allkem's operations spanned multiple continents, focusing on sustainable extraction and processing of resources to meet rising demand for battery materials. Its key producing assets included the Olaroz lithium brine facility in , , which produced battery-grade , and the Mt Cattlin spodumene mine in , yielding high-quality concentrate. The company also operated the Borax business, a historic borates producer supplying refined for , ceramics, and , and held development-stage projects such as the Cauchari project in , the project in , , and the Salar del Rincón project in . By 2023, Allkem reported annual production capacities exceeding 25,000 tonnes of equivalent from its Argentine operations alone, positioning it among the world's top low-cost producers. In a transformative move, Allkem completed an all-stock merger of equals with U.S.-based Corporation on January 4, 2024, creating Arcadium Lithium plc, a vertically integrated global lithium chemicals producer with combined revenues of approximately $1.9 billion and a diversified portfolio of assets across , , the , , and . The merger enhanced Allkem's downstream capabilities, including production for batteries. Subsequently, on March 6, 2025, Rio Tinto completed its $6.7 billion acquisition of Arcadium Lithium through a cash , integrating Allkem's legacy assets—such as the Rincon —into Rio Tinto's portfolio and establishing the mining giant as a major force in minerals with targeted production exceeding 200,000 tonnes per year by 2028.

History

Formation as Orocobre

Orocobre Limited was established in 2007 as an Australian-based company dedicated to the and development of deposits within South America's , with a primary focus on opportunities in . The company was incorporated to capitalize on the region's vast resources, targeting -based extraction methods known for their cost efficiency compared to hard-rock . Its founding leadership, including Managing Director Richard Seville, emphasized building a portfolio of industrial minerals assets, starting with as a key growth area amid rising global demand for battery materials. Following its , Orocobre listed on the Australian Securities Exchange (ASX: ORE) on December 4, 2007, raising A$6.25 million through an oversubscribed IPO that valued the company at approximately A$13 million upon listing. This capital supported early-stage activities in . In June 2010, Orocobre achieved dual listing on the (TSX: ORL), enhancing its access to North American investors and facilitating further equity raises, including a C$20 million earlier that year. Orocobre's initial exploration efforts concentrated on the Salar de Olaroz lithium-potash project in , , where resource definition activities began in 2008 through agreements with local partners, securing the company's controlling stake in the resource. By 2009, Orocobre expanded its tenements at Olaroz to over 53,000 hectares, advancing and geophysical surveys that outlined a significant inferred resource of and . The company shifted to the development phase between 2010 and 2012, forming a key with Corporation in 2010 for project funding and technical support, while securing environmental impact assessments and provincial approvals from Jujuy authorities in 2011-2012. This culminated in debt financing agreements worth up to US$191.9 million executed in December 2012, enabling to commence that November on a facility designed for 17,500 tonnes per annum of production. Olaroz reached its first lithium carbonate production milestone in November 2014, marking the successful commissioning of the primary plant circuits and establishing Orocobre as one of the first commercial-scale lithium producers in from brine sources. This achievement solidified the company's role as a pioneer in the Argentine lithium sector, demonstrating viable low-cost brine processing in the .

Merger with Galaxy Resources and rebranding

In April 2021, Orocobre Limited and Resources Limited announced an all-stock merger of equals, structured as a under which Orocobre would acquire all shares in Galaxy. The transaction valued the combined entity at approximately A$4 billion based on closing prices as of April 16, 2021, positioning it as the fifth-largest global lithium chemicals producer with a diversified production base of around 40,000 tonnes per annum of lithium carbonate equivalent. Under the merger terms, Galaxy shareholders would receive 0.569 new Orocobre shares for each Galaxy share held, resulting in Orocobre shareholders owning approximately 54.2% of the enlarged entity and Galaxy shareholders 45.8%. The strategic rationale emphasized creating a global lithium leader with complementary assets: Orocobre's established brine-based operations in complemented Galaxy's hard-rock lithium projects in and , enhancing geographic diversification, resource scale, and growth opportunities in the electric vehicle supply chain. The merger received necessary approvals, including from Galaxy shareholders on August 13, 2021, and the on the same day, along with regulatory clearances from the Australian Securities Exchange (ASX) and (TSX). It was implemented on August 25, 2021, with 292,598,572 new shares issued to Galaxy shareholders, enabling the combined company's shares to trade under the new ticker AKE on the ASX starting August 26, 2021. Post-merger, Orocobre rebranded to Allkem Limited to signify its evolution into a diversified producer beyond its original Argentine focus, incorporating Galaxy's key assets such as the Mt Cattlin mine in to establish a balanced portfolio of hard-rock and operations. This integration expanded Allkem's footprint across , , and , supporting long-term .

Key acquisitions and divestments

In August 2012, Orocobre Limited, Allkem's predecessor company, acquired Argentina S.A. from Rio Tinto for US$8.5 million, integrating boron production facilities in 's Puna region into its portfolio. This acquisition expanded Orocobre's operations beyond to include refined chemicals and minerals, with the assets fully integrated into Allkem following the 2021 rebranding after its merger with Resources. To optimize its portfolio for lithium-focused growth, Allkem divested Borax Argentina in December 2022 through a binding agreement signed in August 2022 with Minera Santa Rita S.R.L., receiving US$14 million in cash to cover employee and rehabilitation liabilities while acquiring the lithium tenement in exchange. The transaction marked a strategic shift away from non-core boron assets, allowing Allkem to concentrate resources on high-value projects amid rising global demand for battery materials. In furtherance of its downstream integration strategy, Allkem advanced developments in 2022, including the Naraha lithium hydroxide plant in , where it holds a 75% economic interest through a with Corporation via Toyotsu Lithium Corporation. Construction of the facility, designed to convert into 10,000 tonnes per year of battery-grade , reached mechanical completion in fiscal year 2022, with first production achieved in November 2022. Exploration efforts at the Cauchari project also progressed in 2022, with resource updates estimating 6.3 million tonnes of equivalent, contributing to Allkem's combined Olaroz-Cauchari resource of 22.5 million tonnes LCE. These advancements underscored Cauchari's potential as a significant brine-based asset adjacent to the operational Olaroz facility, supporting Allkem's expansion in Argentina's . Securing external funding, Allkem obtained up to US$130 million in project financing from the (IFC) in July 2023 for the development of Sal de Vida Stage 1, marking IFC's inaugural investment in . This debt facility, later expanded to US$180 million with additional support from IDB Invest, facilitated construction of a 15,000-tonne-per-year battery-grade plant, enhancing Allkem's capacity to scale sustainable production.

Merger with Livent to form Arcadium Lithium

On May 10, 2023, Allkem Limited and Corporation announced a definitive agreement for an all-stock merger of equals, creating a combined entity valued at US$10.6 billion (A$15.7 billion). Under the terms, Allkem shareholders would receive one share or Australian Depositary Interest (CDI) in the new company, Arcadium Lithium plc, for each Allkem share held, while shareholders would receive 2.406 shares for each share. Following the transaction, Allkem shareholders were expected to own approximately 56% of Arcadium Lithium, with shareholders owning the remaining 44%; the new company would retain dual listings on the Australian Securities Exchange (ASX: LTM) and the (NYSE: ALTM). The merger aimed to establish a vertically integrated global producer by combining Allkem's upstream brine and hard-rock assets—such as those in and —with 's downstream chemicals capabilities, enhancing and operational scale. This integration was projected to position Arcadium Lithium as a low-cost leader targeting 250 kilotons per annum of equivalent production by 2027, while delivering US$125 million in annual operating synergies and US$200 million in one-time capital savings. The combined portfolio would support major automotive and battery manufacturers through a diversified asset base spanning exploration, extraction, and chemical processing. The transaction secured all necessary regulatory approvals, including antitrust clearances from authorities in , the , the , , , and , by November 14, 2023. Shareholder approvals followed on December 19, 2023, with over 90% of Allkem votes and a majority of votes in favor. The merger closed on January 4, 2024, at which point Allkem became a wholly-owned of Arcadium Lithium plc, headquartered in , , with continued operations across both companies' global sites.

Acquisition by Rio Tinto

On October 9, 2024, Rio Tinto announced an all-cash acquisition of Arcadium Lithium plc for US$6.7 billion, valuing the company at US$5.85 per share, representing a 90% premium to Arcadium's closing share price on October 4, 2024. This transaction marked Rio Tinto's strategic entry into the lithium sector, aiming to diversify beyond its traditional iron ore dominance by leveraging Arcadium's established portfolio of lithium assets, including those inherited from Allkem, to supply battery metals for the energy transition. The deal was unanimously approved by the boards of both companies and required shareholder approval, which Arcadium's shareholders granted on December 23, 2024, alongside necessary regulatory clearances. Key hurdles included approvals from the U.S. Committee on Foreign Investment in the United States (CFIUS), Australia's Foreign Investment Review Board (FIRB), and antitrust authorities in multiple jurisdictions, all of which were obtained by February 13, 2025. The acquisition, implemented via a Jersey scheme of arrangement, closed on March 6, 2025, integrating Arcadium's operations into Rio Tinto's portfolio. For Allkem, whose assets formed a core part of Arcadium following its 2024 merger with , the acquisition ended any residual independent identity, with its projects—such as Salar de Olaroz in and Mt Cattlin in —transitioning fully under Rio Tinto's management to accelerate development and production scaling. This move positioned Rio Tinto as the owner of the world's third-largest reserves and resources, enhancing its role in global battery supply chains while ceasing Arcadium's standalone operations. Following the acquisition, as of November 2025, Rio Tinto has initiated integration of Allkem's legacy assets, targeting production exceeding 200,000 tonnes per year by 2028.

Operations and projects

Salar de Olaroz

The Salar de Olaroz lithium brine project is situated in , northern , approximately 230 km northwest of . The project operates as a through Sales de Jujuy S.A., where Allkem held a 66.5% stake until the formation of Arcadium Lithium in 2024 and its acquisition by Rio Tinto in March 2025; Toyota Tsusho Corporation owns 25%, and Jujuy Energía y Minería Sociedad del Estado (JEMSE) possesses 8.5%. is extracted from hypersaline using a series of evaporation ponds to concentrate the solution, followed by processing into lithium carbonate at an on-site facility. The project contains measured, indicated, and inferred mineral resources totaling 16.2 million tonnes of lithium carbonate equivalent (LCE), based on an updated estimate extending to a depth of 650 meters, with 5.1 million tonnes measured and 4.6 million tonnes indicated. Commercial production commenced in 2014 at a of 17,500 tonnes per annum (tpa) of lithium carbonate. Key milestones include the first shipments of lithium carbonate in 2015 and record annual production of 12,863 tonnes in 2022, supported by innovations in water management such as groundwater modeling to optimize extraction and minimize environmental impact. Ongoing expansions include Stage 2 (Olaroz 2), which adds capacity for an additional 25,000 tpa LCE through new wells, ponds, and processing , with advancing to 99.5% completion by mid-2023 and first wet concentrate produced in July 2023. Under Rio Tinto ownership as of November 2025, the project continues to produce , with expectations for further volume growth in 2025 from expansions. The project emphasizes , utilizing solar in ponds and supplementary photovoltaic power to reduce , alongside a water use efficiency of 49.9 cubic meters per of in 2022, with 24% recirculation. It supports local communities by generating over 600 direct jobs, with 40% filled by residents from nearby areas and 75% from , while contributing US$44 million in economic benefits through salaries, contracts, and indigenous partnership programs. The Salar de Olaroz resource is adjacent to the Cauchari project, enabling potential synergies in management.

Mt Cattlin

The Mt Cattlin mine is a hard-rock operation located approximately 20 km north of Ravensthorpe in , within the Ravensthorpe province. Acquired through Allkem's 2021 merger with Galaxy Resources, the asset was 100% owned by Allkem until the merger with to form Arcadium Lithium in January 2024, and subsequently by Rio Tinto following its March 2025 acquisition. The mine targets spodumene-bearing pegmatites in the Hydra Pod, part of the Albany-Fraser Orogen, and employs methods to extract ore. As of June 2023, Mt Cattlin's mineral resources totaled 12.8 million tonnes at an average grade of 1.3% Li₂O, including 9.7 million tonnes indicated and 1.3 million tonnes inferred, with associated resources of 179 ppm Ta₂O₅. reserves stood at 7.1 million tonnes grading 1.2% Li₂O and 120 ppm Ta₂O₅, supporting a mine life of approximately four years at planned rates. involves conventional open-pit techniques with drill-and-blast and truck-and-shovel operations, targeting annual ore throughput of around 1.8 million tonnes. Production at Mt Cattlin restarted in 2016 under Galaxy Resources, following a period of care and maintenance, and ramped up under Allkem to achieve record output of 193,563 dry metric tonnes of concentrate (grading 5.5% Li₂O) in 2022. The on-site processing plant features a two-stage crushing circuit, for waste rejection, and dense media separation (DMS) to produce a high-grade concentrate, with recovery rates typically exceeding 70%. The concentrate is exported primarily to customers in and for downstream conversion into chemicals. In 2023, operations faced challenges from declining lithium prices and lower-grade ore feeds, leading Allkem to revise full-year production guidance downward to 114,000–124,000 tonnes of concentrate, compared to the prior year's peak. Under Arcadium Lithium, production continued into 2024 but at reduced levels as part of cost optimization, before the company suspended expansion activities (Stage 4A waste stripping) in September 2024 and transitioned the site to care and maintenance by the end of March 2025 amid persistent low spodumene prices. As of November 2025, the mine remains on care and maintenance under Rio Tinto ownership, preserving the asset for potential resumption if market conditions improve, while prioritizing higher-margin brine operations elsewhere.

Naraha

The Naraha Lithium Hydroxide Plant is a downstream processing facility located in Naraha-machi, Futaba-gun, , . It operates as a between Allkem and Corporation, with Allkem holding a 75% economic interest (now under Rio Tinto following the 2025 acquisition) while Toyota Tsusho manages day-to-day operations. The plant represents Japan's first dedicated production site, aimed at supporting the country's . Construction of the facility was completed in November 2022, with a designed capacity to produce 10,000 tonnes per annum (tpa) of battery-grade from 9,500 tpa of technical-grade feedstock supplied by Allkem. The process employs hydrometallurgical refining technology, licensed from Veolia Water Technologies, to purify and convert the carbonate into high-purity suitable for lithium-ion batteries. Feedstock is primarily sourced from Allkem's Argentine operations, including the Olaroz and Sal de Vida projects. Commissioning began in late 2022, with the first successful production of achieved on October 22, 2022, following trial operations at up to 85% utilization. By 2023, the plant had ramped up to sell 1,345 tonnes of hydroxide, with ongoing efforts to optimize product quality and consistency for full commercial output. Initial production targeted supply to Japanese automakers, including , under off-take arrangements tied to the partners. As of 2025, the plant continues operations under Rio Tinto's ownership. Strategically, the Naraha plant enhances for Japanese manufacturers by enabling local conversion of intermediates, thereby reducing dependence on processing facilities in . This positioning supports the growing demand for battery-grade materials in Asia's sector, diversifying Allkem's product portfolio beyond raw .

Sal de Vida

The Sal de Vida project is a greenfield brine lithium development situated in the of , within the Salar del Hombre Muerto salt flat, approximately 1,400 km northwest of . The project was 100% owned by Allkem Limited through its wholly owned subsidiary, Galaxy Lithium (Sal de Vida) S.A., until the 2025 acquisition by Rio Tinto. Exploration activities began prior to Allkem's involvement via its merger with Resources in , advancing the site from resource delineation to the development phase. The project's mineral resource comprises approximately 6.5 million tonnes of lithium carbonate equivalent (LCE) in the measured and indicated categories, based on an August 2023 estimate, with an additional inferred resource bringing the total to 7.17 million tonnes LCE. The brine exhibits high lithium concentrations averaging around 750 mg/L and low levels of magnesium, calcium, and impurities, which enable straightforward impurity removal and efficient conversion to battery-grade during processing. Proven and probable reserves stand at 2.49 million tonnes LCE, supporting long-term production potential. Development progressed with a definitive completed in 2020, followed by an updated study in 2023 that refined economics and reserves. Construction of Phase 1 began with early works in January 2022 and advanced into full site development in 2023, reaching approximately 32% completion by August 2023. As of Q3 2025 under Rio Tinto, mechanical completion is targeted for the first half of 2026 and first production in the second half of 2026 at a rate of 15,000 tonnes per annum (tpa) of . Phase 1 focuses on initial evaporation infrastructure and a lithium carbonate plant, with a planned modular expansion to 45,000 tpa in Phase 2 following ramp-up. Funding for the project includes a US$130 million, 10-year loan from the (IFC) signed in July 2023, featuring a two-year and sustainability-linked terms, supplemented by an additional US$50 million from IDB Invest in December 2023, for a combined multilateral of around US$180 million. The total capital expenditure for Phase 1 is estimated at US$374 million, covering activities. The extraction and processing method relies on solar evaporation ponds to concentrate the brine, followed by pumping to a plant for lime precipitation to remove impurities like magnesium, for further purification, and to produce . Pilot testing conducted from 2020 to validated the process flowsheet, confirming high recovery rates and environmental compliance, with sustainability features including water recycling and minimal land disturbance. This approach shares similarities with brine processing techniques employed at Allkem's operational Salar de Olaroz project.

James Bay

The James Bay lithium project is a hard-rock lithium development initiative located in the territory of northern , , approximately 130 km east of and adjacent to the Billy-Diamond Highway for access. The project features multiple near-surface spodumene-bearing deposits within a deformation corridor and was 100% owned by Allkem Limited through its wholly owned subsidiary Galaxy Lithium (Canada) Inc. until the 2025 acquisition by Rio Tinto. The asset was originally acquired by Galaxy Resources in 2012 via a merger with Lithium One Inc., and it became part of Allkem following the 2021 merger between Galaxy Resources and Orocobre Limited. The mineral resource estimate includes an indicated category of 40.3 million tonnes grading 1.4% Li₂O, supporting a maiden probable reserve of 37.2 million tonnes at 1.3% Li₂O, as defined in the 2021 feasibility study; an updated resource estimate effective June 2023 expanded the indicated category to 54.3 million tonnes at 1.30% Li₂O. Development of the project has progressed through a released in December 2021, outlining an operation processing 2 million tonnes per annum of ore to produce an average 321,000 tonnes per annum of concentrate (grading 5.6% Li₂O) over a 19-year mine life, with initial of US$285.8 million and utilization of low-carbon hydropower from . A 2023 update to the study, incorporating the expanded resource and higher prices, affirmed strong including a pre-tax of US$2.9 billion, an of 107%, and revised initial of US$381.5 million (including contingency), while maintaining similar production parameters. The project received federal environmental approval in January 2023 under the Impact Assessment Act and provincial authorization via a Certificate of Authorization from the Comité d'évaluation environnementale in December 2023, following submission of an updated Environmental and Social Impact Assessment in 2021. Allkem has prioritized Indigenous partnerships, including a Preliminary Development Agreement signed with the Cree Nation of Eastmain in March 2019 to support community benefits and employment, with an Impact Benefit Agreement under negotiation. As of 2024, the remained in the pre-production stage, with detailed engineering approximately 80% complete and ongoing exploration drilling to support resource expansion and mine ahead of . As of November 2025, it continues in development under Rio Tinto.

Cauchari

The Cauchari lithium-potash project is an early-stage exploration initiative located in , northern , approximately 20 km south of the Salar de Olaroz and at elevations ranging from 3,700 to 4,300 meters above . The site lies within the Puna region, extending into parts of , and benefits from its proximity to the established Olaroz operations, enabling potential synergies in and . Allkem held 100% ownership of the project through its subsidiaries, including full control of the underlying entities following acquisitions in 2022, until the 2025 acquisition by Rio Tinto. A 2022 resource update outlined an inferred resource of 1.5 million tonnes of equivalent (LCE) at an average concentration of 473 mg/L, alongside measured and indicated resources totaling 4.8 million tonnes LCE, with as a potential . Exploration efforts, including geophysical surveys and sampling, have been ongoing since 2009, with key campaigns from 2018 to 2023 involving 26 holes and five rotary wells to delineate the system. These activities, including 30-day pumping tests in 2018 and interim results in 2022, confirmed high-grade with concentrations ranging from 452 to 571 mg/L in measured and indicated categories, and up to 956 mg/L in select samples, supporting resource expansion in the northwest and southeast sectors. As of November 2025, the project remains in early exploration under Rio Tinto. Conceptual studies indicate development potential through integrated operations with Olaroz, leveraging similar brine chemistry and conventional evaporation-precipitation processing to target up to 25,000 tonnes per annum of , though no has been completed as of 2022. The project's high poses logistical challenges, while in the arid salar environment is mitigated via brackish extraction, treatment, and conservative hydrogeological modeling to maintain basin .

Borax Argentina

Borax Argentina S.A. (Borax Argentina) operated boron mining and processing facilities primarily in , Argentina, with one mine in neighboring . The facilities included open-pit mines at Tincalayu and Sijes in Salta, and Porvenir in Jujuy, along with concentration plants at each site and a refinery at Campo Quijano near city. Allkem, then known as Orocobre Limited, acquired 100% of Borax Argentina from Rio Tinto PLC entities in August 2012 for a total consideration of , comprising an initial payment of and three annual installments of each. Under Allkem's ownership from 2012 to 2022, Borax Argentina produced refined boron products, including , decahydrate, borax pentahydrate, anhydrous , and mineral concentrates such as , derived from ore sources. The operations had an approximate capacity of 35,000 tonnes per annum of boron-based products and mineral concentrates, with the plant initially at 9,000 tonnes per annum before planned expansions, including relocation to Tincalayu and a pre-feasibility study for a new 25,000 tonnes per annum facility at Olacapato. These products supplied key industries, notably for fertilizers and glass manufacturing for borosilicate applications, contributing to Allkem's revenue diversification; for example, in fiscal year 2017, sales reached 41,777 tonnes, while in fiscal year 2022, segment revenue was US$25.1 million from 53,334 tonnes sold. In December 2022, Allkem divested as a non-core asset to streamline its portfolio toward production. The transaction involved transferring all shares in the Borax holding companies and US$14 million in cash to Golden Wattle Springs Pty Ltd, a group associated with Minera Santa Rita S.R.L., in exchange for the tenement in . This divestment marked the end of Borax Argentina's role in providing early-stage operational stability and revenue streams for Allkem, allowing a sharper focus on high-growth projects.

References

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