Article

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.