Pécresse described Argentina as the cornerstone of Rio Tinto’s global lithium strategy. The company currently produces all its lithium from Argentine operations across three provinces—Catamarca, Salta, and Jujuy—making it the only producer active in all three jurisdictions. Existing operations in Jujuy and Catamarca deliver around 60,000 tonnes annually. The commissioning of Sal de Vida and Fénix 1B will lift capacity to 80,000 tonnes, while Rincón’s two production trains of 25,000 tonnes each will push total output to approximately 140,000 tonnes when the first line starts in 2028. Rio Tinto projects that three-quarters of its global 200,000-tonne lithium carbonate equivalent capacity by 2028 will originate in Argentina.
The executive emphasized that RIGI served as a critical enabler for Rio Tinto’s investment decisions, crediting the regime with providing the confidence necessary to proceed with the expansion trajectory. He noted the company invests roughly $1 billion annually in Argentina, with Fénix and Sal de Vida representing $1.3 billion combined and Rincón exceeding $2 billion. Pécresse stated Rio Tinto sources approximately 90 percent of Fénix and Sal de Vida spending from local Puna suppliers, while Rincón directs 75 percent of expenditure to Argentine companies.
Beyond lithium, Pécresse confirmed Rio Tinto evaluates copper opportunities globally and identified Argentina as a jurisdiction with significant potential. The company holds a position in Los Azules, signaling active interest in the mineral. However, he stipulated that continued investment requires stable political and economic conditions, ongoing government and provincial support, and improved infrastructure. Pécresse indicated the next project under consideration would likely require around $1 billion and follow the sequential development model Rio Tinto applies across its Argentine portfolio.
This article was curated and published as part of our South American energy market coverage.
