Global mining group Rio Tinto has approved an investment of $2.5 billion to expand its first commercial-scale lithium operation, the Rincon project in Argentina.
Plans call for an increase in annual production capacity of battery-grade lithium carbonate from the current starter plant capacity of 3,000 tonnes (3,307 US tons) to a total of 60,000 tonnes (66,139 US tons). Based on an annual production target of approximately 53,000 tonnes (58,422 tons), the Rincon mine’s life expectancy is 40 years.
The Rincon brine extraction project, located in Argentina’s “lithium triangle,” employs direct lithium extraction (DLE) technology. The project consists of a production well field, processing and waste facilities and associated infrastructure.
Subject to permitting, construction of the expanded plant is slated to start in mid-2025. Initial production is expected in 2028, followed by a three-year ramp-up to full capacity.
“We are dedicated to developing this Tier 1, world-class resource at scale at the low end of the cost curve,” said Rio Tinto Chief Executive Jakob Stausholm. “We are equally 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.”
Source: Rio Tinto
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