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 project involving the battery metal in years, alongside state-run copper producer Codelco.

Canadian innovator Volt Lithium has been among the industry pioneers, exploring DLE in the oil production hotspot—the Permian Basin. Its founder and CEO, Alex Wylie, told Benzinga last year about the steep learning curve in DLE development.

Diversified global miner Rio Tinto (NYSE:RIO) has made the next significant step into battery metals, committing $900 million for a 49.99% stake in Chile's Salar de Maricunga, a world-class lithium project controlled by the Chilean state-owned miner Codelco.