So far the market is working in Rio's favor, as plunging lithium prices since January have stymied Arcadium's growth plans.

A total of four companies -- three focused on lithium and one on copper -- have been named the recipients of the funding.

Arcadium was formed only in January by the merger of Australia-based Allkem and US-based Livent.

The company announced the discovery of spodumene-rich pegmatites at its lithium project in Minas Gerais, Brazil.

Based on the successful completion of development objectives, both parties intend to commercialize the jointly enhanced silicon anodes for EV lithium-ion batteries.

A potential return of heavyweight investment flows to the sector could be as powerful a price driver as physical supply shortages.