Rio Tinto to Invest $2.5 Billion to Boost Capacity of Argentina Lithium Project

Forex - Rio Tinto has announced plans to invest $2.5 billion to increase production capacity at the Rincon lithium project in Argentina. According to Rio Tinto, as part of the capacity increase, the project's capacity will reach 60,000 tons, including an initial facility of 3,000 tons and an expansion facility of 57,000 tons. The Rincon project previously had a capacity of 53,000 tons. Rio Tinto CEO Jakob Stausholm stated, “The attractive long-term outlook for lithium driven by the energy transition underpins our investment in Rincon.” Construction of the new expanded facility is scheduled to begin in mid-2025, with initial production from Rincon expected in 2028.