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Rio Tinto Wins Approval for $2.5B Argentina Lithium Project

  • Argentina's government approved Rio Tinto's $2.5 billion Rincon lithium mining project in Salta province on May 2025 under the new RIGI regime.
  • The approval follows delays in seven projects submitted since the libertarian government launched the RIGI program nine months ago to stabilize the economy.
  • The Rincon initiative is expected to create approximately 500 long-term jobs, with construction set to commence this year, and plans to generate an annual output of 60,000 tonnes of lithium carbonate suitable for batteries.
  • Daniel González stated, "We hope this will be the first of many," highlighting RIGI's role in tackling investment unpredictability amid Argentina's economic challenges.
  • RIGI offers stable 30-year rules with lower taxes and capital movement freedom, potentially increasing foreign investment despite Argentina's history of economic crises.
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Mining Technology | Mining News and Views Updated Daily broke the news in on Wednesday, May 21, 2025.
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