Key facts
- Rio Tinto inaugurated two new lithium plants in Argentina's Catamarca province.
- The Sal de Vida plant and Fenix 1B expansion project have a $1.4 billion price tag.
- The new plants will add 25,000 metric tons of lithium carbonate equivalent annually.
- Rio Tinto aims for 200,000 metric tons of annual production capacity in Argentina by 2028.
- Both Rincon and Fenix projects use direct lithium extraction (DLE) technology.
Rio Tinto inaugurated two new lithium plants in Argentina's Catamarca province on Wednesday, utilizing direct lithium extraction (DLE) technology. The Sal de Vida plant and Fenix 1B expansion project, with a combined price tag of $1.4 billion, are expected to add 25,000 metric tons of lithium carbonate equivalent annually. The company's Rincon project in Salta province is projected to produce 60,000 metric tons per year, as Rio Tinto aims to reach a total annual production capacity of 200,000 metric tons in Argentina by 2028. Rio Tinto CEO Simon Trott stated the world needs more lithium and the company aims to increase its production capacity significantly. DLE technology is promoted as a more sustainable and faster alternative to traditional mining methods. Argentina, part of South America's Lithium Triangle, is seeking to attract investment through market-friendly reforms and tax incentives.