Rio Tinto to invest $2.5 billion to expand Rincon lithium project capacity

Rio Tinto has approved $2.5 billion to expand the Rincon project in Argentina, the company’s first commercial scale lithium operation, demonstrating its commitment to building a world-class battery materials portfolio.

Rincon’s capacity of 60,000 tonnes of battery grade lithium carbonate per year comprises the 3,000-tonne starter plant and 57,000-tonne expansion plant.

Rio Tinto Chief Executive Jakob Stausholm said: “We are dedicated to developing this tier 1, world-class resource at scale at the low end of the cost curve. We are equally committed to meeting the highest ESG standards, leveraging our advanced technology.”

“This investment alongside our proposed Arcadium acquisition ensures that lithium will become one of the key pillars of our commodity portfolio for decades to come,” he added.

Located in the heart of the ‘lithium triangle’ in Argentina, the Rincon project consists of brine extraction using a production wellfield, processing and waste facilities, as well as associated infrastructure. The project uses direct lithium extraction (DLE) technology, a process that supports water conservation, reduces waste and produces lithium carbonate more consistently than other methods.