Rio Tinto Starts Two Key Mining Projects in Argentina

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Written by Amir Richani for IIR News Intelligence (Sugar Land, Texas)

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Summary

Rio Tinto recently inaugurated two major projects in Argentina, lifting its operational assets in the South American country to five. The company is targeting global annual production capacity of 200,000 tonnes of lithium carbonate equivalent (LCE) by 2028.

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New and Expanded Capacity

Rio Tinto plc announced the inauguration of its Fenix B expansion and Sal de Vida mine in Argentina's Catamarca province, with a total investment value (TIV) of US$1.4 billion. Both projects achieved first production during the second quarter, ahead of plan, and are now ramping up production.

Once fully ramped up, the two projects will increase annual lithium carbonate equivalent (LCE) production capacity by a combined 25,000 tonnes. Industrial Info Resources offers more information on these developments in its Global Market Intelligence (GMI) Metals & Minerals Plant and Project databases, where subscribers can find details--including construction schedules, investment values and necessary equipment--in profiles of the Fenix B and Sal de Vida mines, and reports on the Fenix B expansion and Sal de Vida construction.

The inauguration ceremony was attended by Argentina's President Javier Milei, Catamarca's Governor Raul Jalil and Rio Tinto CEO Simon Trott.

"These two projects build on nearly three decades of lithium production in Catamarca and the expertise of our Argentine workforce," Trott said during the event. "They demonstrate our industry-leading project delivery capability, as we execute with discipline toward our global target of 200,000 tonnes lithium carbonate equivalent annual production capacity by 2028."

The Fenix expansion adds 10,000 tonnes of annual LCE production capacity to existing operations, increasing total output to 40,000 tonnes of LCE per year.

Meanwhile, Sal de Vida, located about 20 kilometers from Fenix, has a targeted annual capacity of 15,000 tonnes of LCE.

Assets and Expansions

Beyond Fenix and Sal de Vida, Industrial Info Resources is tracking three other Rio Tinto-owned lithium operations in Argentina, which include the General Guemes Lithium Chloride plant, the Olaroz lithium plant, and the Rincon starter plant.

Subscribers can read detailed profiles of the General Guemes, Olaroz and Rincon plants.

At the same time, the company expects to continue expanding its lithium operations in the South American country. Industrial Info Resources is tracking 12 Rio Tinto lithium projects in Argentina, representing investments of US$4.66 billion. Subscribers can learn more from a detailed list of project reports.

The largest is the Rincon lithium expansion, a US$2.5 billion development targeting a total capacity of 60,000 tonnes of LCE per year, through three expansions.

The Rincon project has been approved under Argentina's Incentive Regime for Large Investments (RIGI), which offers tax cuts, foreign exchange incentives, and long-term regulatory stability for projects in specific sectors with minimum investments of US$200 million.

Beyond Argentina

Rio Tinto, one of the world's largest iron ore producers, has strengthened its position in the lithium sector through the acquisition of Arcadium Lithium, which added Argentine assets to its portfolio, and through key partnerships in Chile.

In Chile, Rio Tinto has partnered with state companies Codelco and Enami to develop the Maricunga and Salares Altoandinos projects, worth almost US$4 billion, according to Industrial Info Resources data.

These two projects, still at earlier stages of development, would further expand Rio Tinto's role in the lithium sector. Subscribers can read detailed reports on the Maricunga and Salares Altoandinos projects.

In the first nine months of the year, Rio Tinto produced 40,300 tonnes of LCE across its operations. The company has set yearly production guidance of 61,000 to 64,000 tonnes of LCE for 2026.

Key Takeaways

• Rio Tinto is expanding its capacity in Argentina with the inauguration of Fenix's expansion and the Sal de Vida mine.
• The company has five operating assets in Argentina.
• Industrial Info Resources is tracking 12 Rio Tinto-owned projects in Argentina worth US$4.66 billion.

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About Industrial Info Resources
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news, and analysis on the industrial process, manufacturing, and energy-related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified, and verified plant and project opportunities. Across the world, Industrial Info Resources is tracking over 250,000 current and future projects worth $30.2 trillion (USD).