Rio Tinto is reportedly receiving bids for its $300 million Mt Cattlin lithium mine, located in Western Australia. The asset, currently under care and maintenance, is expected to attract interest from a range of potential buyers, including Develop Global, Delta Lithium, and Core Lithium.

Develop Global, led by former Northern Star executive Bill Beament, holds assets nearby the Mt Cattlin operation and is believed to be one of the contenders. Another possible bidder is Delta Lithium, an ASX-listed company valued at around $130 million, which reportedly seeks to expand through acquisition. Core Lithium, with a market capitalization near $12 billion, has also been mentioned, although some analysts question whether it has the capacity to complete the deal. Additional parties are believed to be involved in the bidding process as well.

Mt Cattlin is a modest-sized operation by Rio Tinto’s standards, featuring an open-pit mine and processing facilities that produce high-quality spodumene concentrate, a lithium-bearing mineral utilized in global supply chains. The mine, which has an approximate annual production capacity of 10,000 tonnes, was placed in care and maintenance in 2025, following a sustained period of low spodumene prices that rendered the site uneconomical.

The sale of Mt Cattlin forms part of a broader strategic asset disposal plan by Rio Tinto. The company is in the process of selling its $2 billion borates business, although the divestment of its larger titanium assets has been delayed due to geopolitical concerns related to potential Chinese buyers. Concurrently, investment banks UBS and JPMorgan are advising Rio Tinto on this wider asset sale program.

In an associated development, Rio Tinto is progressing a separate process for the potential sale of its infrastructure assets in the Pilbara region. Macquarie Capital is managing the Mt Cattlin sale, while firms such as Apollo Global Management, Stonepeak, and KKR are expected to participate in the infrastructure bidding, which is being positioned more as a financing opportunity rather than a traditional infrastructure investment. Other investors, including EQT and The Carlyle Group, are reportedly monitoring the sale as well.

This infrastructure sale follows industry trends, exemplified by BHP’s recent transaction with Global Infrastructure Partners, where BHP sold a 49 percent stake in its iron ore inland power network while retaining majority control. The deal, valued at $2 billion, demonstrated how mining companies can monetize infrastructure assets without relinquishing operational oversight.

The infrastructure divestment discussions occur alongside recent moves in the energy sector, marked by DigitalBridge’s $2.8 billion acquisition of Plus ES, Ausgrid’s smart metering business, outmaneuvering rivals including Morrison, who had backing from the Future Fund and Aware Super. This competitive landscape underscores a growing appetite among financial groups for energy and mining infrastructure investments.