Rio Tinto: invests $2.5bn in lithium in Argentina

(CercleFinance.com) - Rio Tinto announces that it will invest $2.
5bn to expand its Rincon project in Argentina, its first large-scale commercial lithium operation.

The project targets an annual capacity of 60,000 tonnes of battery-grade lithium carbonate, including an initial 3,000-tonne plant and a 57,000-tonne expansion. Construction will start in 2025, with production scheduled for 2028 and full capacity reached in 2031.

CEO Jakob Stausholm emphasizes lithium's long-term appeal, profitability and the company's commitment to high ESG standards, including halving water use.

The Rincon project, based on direct lithium extraction, will benefit from Argentina's favourable economic policies and 30 years of regulatory stability.


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