Argentina: Río Tinto invierte para ampliar el proyecto Rincón

The British-Australian mining group Rio Tinto is investing $2.5 billion in expanding its Rincon project in Argentina. The Rincon mine will supply up to 60,000 tonnes of battery-grade lithium carbonate per year. Subject to approval, the expansion is scheduled to begin in mid-2025 and production in 2028.

Imagen: Río Tinto

The mining group is carrying out the project at Argentina’s ‘lithium triangle’. Out of the 60,000 tonnes of battery-grade lithium carbonate envisaged per year, 3,000 tonnes will be produced by a starter plant, and an expansion plant will produce another 57,000 tonnes. The company targets full operating capacity after three years of start of production.

The Rincon project leverages direct lithium extraction technology to mine brine. This technology ensures that water is conserved. At the same time, the method proves effective more than any other method to consistently produce lithium carbonate. Rio Tinto Chief Executive Jakob Stausholm said: “We are committed to meeting the highest ESG standards, leveraging our advanced technology to halve the amount of water used in processing while continuing to grow our mutually beneficial partnerships with local communities and Salta province.”

Though the Rincon project’s lifespan is envisaged to be 40 years, the project demonstrates Rio Tinto’s commitment to making Argentina a world-leading lithium producer, according to Stausholm: “Building on Argentina’s supportive economic policies, skilled workforce, and exceptional resources, we are positioning ourselves to become one of the top lithium producers globally.” He added: “The attractive long-term outlook for lithium driven by the energy transition underpins our investment in Rincon. We are dedicated to developing this tier 1, world-class resource at scale at the low end of the cost curve.”

Last October, Rio Tinto committed 6.7 billion US dollars to take over the US company Arcadium Lithium. The acquisition gives Rio Tinto access to lithium mines, processing facilities and deposits in Argentina, Australia, Canada and the US. 

riotinto.com

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