This is the largest investment in a lithium project in the country and will be carried out in the Salar del Rincón. According to calculations, it will generate more than 3 thousand jobs and hundreds of local suppliers throughout its value chain.
The governor of Salta, Gustavo Sáenz, announced that he met with company directors Rio Tinto, who confirmed that they will make an investment of 2,500 million dollars in that province to produce lithium carbonate and expand the capacity of the Litio Rincón project to 60 thousand tons per year.
This is the largest investment in a lithium project in the country and will be carried out in the Salar del Rincón. According to calculations, it will generate more than 3 thousand jobs and hundreds of local suppliers throughout its value chain.
“In the global context of the energy transition, Salta has established itself as an outstanding province to invest in. We offer legal security, predictability, clear rules of the game, transparency, social license, care for the environment and its effective oversight,” said Sáenz.
As the governor explained, the businessmen “ratified their willingness to join the RIGI, considering that Salta has been one of the first provinces to approve it by law.” “We celebrate that Rio Tinto continues to choose Salta, allowing the growth and development of the province, which from the beginning of my mandate ratified mining as a State policy,” he added.
Rincón’s capacity to produce 60,000 tons of high-quality lithium carbonate for batteries per year includes the initial 3,000-ton plant and the 57,000-ton expansion plant. A useful life of 40 years is also estimated, with construction of the expanded plant beginning in mid-2025.
For his part, the CEO of the Rio Tinto group, Jakob Stausholm He highlighted that “the attractive long-term outlook for lithium driven by the energy transition supports our investment in Rincón.”
“We are dedicated to developing this world-class, world-class resource on a large scale and at the low end of the cost curve. “We are equally committed to meeting the highest ESG standards, using our advanced technology to halve the amount of water used in the refining process while continuing to strengthen our mutually beneficial partnerships with local communities and the province of Salta.” , he remarked.
“Thanks to Argentina’s exceptional resources, skilled workforce and favorable economic policies, we are in an excellent position to become one of the world’s leading lithium producers. “This investment, together with our proposed acquisition of Arcadium, ensures that lithium will be one of the key pillars of our commodities portfolio for decades to come,” Stausholm added.
Rincón is a vast long-lived asset with reserves 60% higher than those known at the time of acquisition.
Source: Ambito
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