Rio Tinto Secures $1.175 Billion Financing for Rincon Lithium Project in Argentina
Rio Tinto has secured a $1.175 billion financing package from four international lenders for the Rincon lithium project in Argentina. The project, with a total investment of $2.5 billion, aims to produce approximately 60,000 tons of battery-grade lithium carbonate annually. Key lenders include the International Finance Corporation, IDB Invest, Export Finance Australia, and the Japan Bank for International Cooperation.
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Rio Tinto has obtained a $1.175 billion financing package from four lenders to support its $2.5 billion Rincon lithium project in Argentina's Salta Province. The financing, sourced from the International Finance Corporation, IDB Invest, Export Finance Australia, and Japan Bank for International Cooperation, will aid in the development of the project, which is expected to produce about 60,000 tons of battery-grade lithium carbonate annually. Construction began last year, with first production targeted for 2028, and the project is projected to have a 40-year mine life.
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