Rio Tinto Invests $2.5 Billion in Rincon Lithium Expansion

Rio Tinto ( (GB:RIO) ) has issued an announcement.

Rio Tinto has announced a $2.5 billion investment to expand its Rincon lithium project in Argentina, with the aim to increase its capacity to 60,000 tonnes of battery-grade lithium carbonate per year. This strategic move aligns with Rio Tinto’s commitment to becoming a major player in the lithium market, leveraging Argentina’s favorable economic policies and resources, while also addressing water conservation and sustainability through advanced technology. The expansion is expected to generate significant economic opportunities and positions Rio Tinto as a key contributor to the global energy transition.

More about Rio Tinto

Rio Tinto is a leading global mining and metals company, known for its extensive portfolio in the production of iron ore, aluminum, copper, diamonds, and now expanding into battery materials like lithium. The company focuses on sustainable mining practices and technological innovation to maintain a competitive edge in the global market.

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Current Market Cap: £86.58B

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