In October last year, we at Agenda Malvinas reported on the purchase of Arcadium Lithium by the Anglo-Australian mining company Rio Tinto . With this operation, the company took over two of the largest lithium projects in the country: Olaroz in Jujuy and Fenix in Catamarca.
Now, it has announced a $2.5 billion investment to expand lithium carbonate production at its Rincón de Salta project . In a statement sent to Energy Report, the Anglo-Australian company indicated that this decision will be submitted to the Large Investment Incentive Scheme (RIGI) and is aimed at "the company's commitment to establishing a first-class battery materials portfolio."
Rio Tinto will carry out brine extraction through a production well area and processing and effluent facilities. The total production capacity will be 60,000 tons of lithium carbonate for batteries per year (initial plant of 3,000 tons and expansion plant of 57,000 tons) , detailed the Canal 26 portal.
The Anglo-Australian miner said it estimates the life of Rincón de Salta to be 40 years and that construction of the expanded plant is expected to begin in mid-2025 . "First production is expected to begin in 2028, followed by three years of ramp-up to full capacity, which will generate a significant number of jobs and economic opportunities for local businesses," the company said in a statement.
In addition, Rio Tinto also confirmed its intention to incorporate this investment into the RIGI: "Argentina's economic reforms and Large Investment Incentive Regime (RIGI) provide a favorable environment for investment, with benefits such as lower tax rates, accelerated depreciation, and regulatory stability for 30 years, which protects the project from future policy changes and further safeguards investors," they said in the press release.
Thanks to the exceptional resources that Argentina has, and in particular the province of Salta, the qualified Argentine workforce and the economic policies of dedication and submission guaranteed by the Milei government, the Anglo-Australian mining company stated that "we are in an excellent position to become one of the main lithium producers in the world."
Rio Tinto's other big investment, San Juan copper
Through its technology subsidiary Nuton , Rio Tinto confirmed the investment of $35 million for McEwen Copper's Los Azules copper project , located in Calingasta, San Juan.
Los Azules announced a new exploration campaign for 2025 , with 7,700 meters of drilling scheduled for the first half of the year , Linews reported. The project has already reached historic milestones in previous campaigns: 39,000 meters in 2022/2023 and 70,000 meters in 2023/2024.
"This fourth investment by Rio Tinto is an expression of confidence in the project, its leadership and development, in a project that, measured in terms of resources, is the eighth largest in the world in terms of resources ," said Michael Meding , vice president of McEwen Copper and general manager of the Los Azules project , in conversation with Energy Report . He added that, with this purchase, Nuton has invested 100 million dollars so far.
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