Rio Tinto (RIO) has approved $2.5B to expand the Rincon project in Argentina, the company’s first commercial scale lithium operation. Rincon’s capacity of 60,000 tons of battery grade lithium carbonate per year is comprised of the 3,000-ton starter plant and 57,000-ton expansion plant. Rincon’s mine life is expected to be 40 years, with construction of the expanded plant scheduled to begin in mid-2025, subject to permitting. First production is expected in 2028 followed by a three-year ramp up to full capacity, generating job creation and economic opportunities for local businesses.
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