Rio Tinto’s $2.5 Billion Lithium Plan Is a Win for Milei
- UK miner announces investment in Argentina amid price pullback
- CEO touts libertarian president’s marquee incentives package
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Rio Tinto Group plans to invest $2.5 billion in a new lithium mine in Argentina in a win for President Javier Milei’s efforts to deregulate the country’s economy and lure foreign investment.
The UK company plans to build a processing plant at the Rincon mine with an annual capacity of 60,000 metric tons of lithium carbonate, it said Thursday in a statement. Work on the facility, subject to permitting, will start in the middle of next year.