Finance
Rio Tinto to spend $2.5 billion to expand Argentina lithium project capacity
Published by Global Banking & Finance Review®
Posted on December 12, 2024
1 min readLast updated: January 27, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on December 12, 2024
1 min readLast updated: January 27, 2026
Rio Tinto will invest $2.5 billion to expand its Rincon lithium project in Argentina, increasing capacity to 60,000 tonnes. Construction starts in 2025, with production expected by 2028.
(Reuters) - Rio Tinto said on Thursday it plans to invest $2.5 billion to ramp up production capacity at the miner's Rincon lithium project in Argentina.
As part of the ramp up, the project's capacity will reach 60,000 tonnes, including a 3,000-tonne starter plant and 57,000-tonne expansion plant, according to Rio Tinto. The Rincon project earlier had a capacity of 53,000 tonnes.
"The attractive long-term outlook for lithium driven by the energy transition underpins our investment in Rincon," Rio Tinto CEO Jakob Stausholm said.
Construction of the newly expanded plant is scheduled to begin mid-2025, with initial production from Rincon is expected in 2028.
(Reporting by Rishav Chatterjee in Bengaluru; Editing by Shounak Dasgupta)
The article discusses Rio Tinto's $2.5 billion investment to expand its lithium production capacity in Argentina, driven by the energy transition.
The Rincon project is a lithium mining operation in Argentina, which Rio Tinto is expanding to increase production capacity.
Rio Tinto is investing in lithium due to its attractive long-term outlook, driven by increased demand from the global energy transition.
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