The Chinese translation is being made; the original is shown for now.
查看配图The Becancour plant in Quebec. Credit: Rio Tinto.
Posted By: Northern Miner Staff November 12, 2026
Construction of Rio Tinto’s (LSE, ASX, NYSE: RIO) Nemaska lithium plant in Quebec is set to remain on hold through 2027, putting its planned 2028 start in doubt, according to Le Journal de Montréal.
Employees were told Wednesday that work could resume in 2028, although that was unconfirmed, the newspaper reported Wednesday, citing a company letter. Quebec’s economic development minister’s office had confirmed 68 layoffs extending through December in earlier reporting.
“This decision does not reflect any reduction in commitment from Rio Tinto or from the Board of Nemaska Lithium,” Rio said when it slowed construction in March.
The longer pause raises questions about the return on $1.2 billion (US$846 million) of public funding that Quebec has put into the venture, according to the newspaper. The plant was more than 70% complete in March, when Rio said it did not foresee major changes to the overall timetable.
Funding pressure
The Bécancour project forms part of Quebec’s attempt to build a battery supply chain that converts locally mined minerals into higher-value materials. Bécancour lies about 150 km northeast of Montreal, across the St. Lawrence River from Trois-Rivières.
Rio took direct management control in February after increasing its interest to 54%. Quebec holds the remaining 46% through Investissement Québec.
At the time, Quebec committed up to US$200 million ($280 million) in additional equity and Rio pledged more than US$300 million for its Quebec lithium business during 2026. The province described its contribution as its final investment and said Rio had committed to bringing the plant into service in 2028.
The latest reported pause would leave the construction restart uncertain in the very year previously targeted for first production.
Lithium slump
Lithium carbonate spot prices in Asia have fallen to $12.90 per kilogram from more than $25 in May, BMO said Thursday, citing Fastmarkets. Weak demand growth and expanding supply from Africa and China have weighed on the market, BMO said.
Rio is also reviewing the plant’s long-term supply of spodumene, the lithium-bearing mineral used to make lithium hydroxide. The company has been assessing Nemaska’s Whabouchi project and its wholly owned Galaxy project to determine the best source.
In February, Rio expected that supply review to be finished in the first half of the year. BMO said Thursday that the choice between the two projects remained unresolved.
Rio shares dropped 1.51% Thursday morning to $83.72 in NYSE trading, valuing the company at about $136 billion. The stock has ranged between $68.70 and $112.58 in the past year.