Rio Tinto plans to invest $2.5 billion to expand the capacity to 60,000 tonnes per year in London.

Specifications:

Name:

Rio Tinto plans to invest $2.5 billion to expand the capacity to 60,000 tonnes per year in London.

Location:

London

Company:

Rio Tinto

Estimated Cost:

$2.5 billion

Source:

https://www.riotinto.com/

Introduction:

Rio Tinto plans to invest $2.5 billion to expand the Rincon lithium project capacity to 60,000 tonnes per year in London, England.

Features:

Rio Tinto has approved a $2.5 billion investment to expand the Rincón project in Argentina, marking the company's first commercial-scale lithium operation and reinforcing its commitment to building a world-class battery materials portfolio.

The Rincón project will have a production capacity of 60,000 tonnes of high-grade, battery-grade lithium carbonate annually. This includes an initial 3,000-tonne plant and a planned 57,000-tonne expansion. With an estimated mine life of 40 years, construction of the expanded plant is anticipated to begin in mid-2025, pending permitting approvals.

Initial production is scheduled for 2028, with a three-year ramp-up to full capacity. The project is expected to create significant employment opportunities and boost economic activity for local businesses.

This investment aligns with Argentina's ambition to become one of the world’s leading lithium producers. The country’s economic reforms and Large Investment Incentive Regime (RIGI) offer a favorable environment for foreign investment, including reduced tax rates, accelerated depreciation, and regulatory stability for 30 years. These measures provide policy protection and secure long-term returns for investors.