Rio Tinto Secures $1.18 Billion Financing for Rincon Lithium Project in Argentina
New York – Rio Tinto has secured a $1.175 billion financing package from four international lenders to advance the development of its Rincon lithium project located in Salta Province, Argentina. The financing will support the $2.5 billion project, which is expected to produce approximately 60,000 tonnes of battery-grade lithium carbonate annually.
Financing Details
The financing package includes loans from the International Finance Corporation (IFC), IDB Invest, Export Finance Australia (EFA), and the Japan Bank for International Cooperation (JBIC). Rio Tinto announced the agreement on March 12, 2026.
Project Overview
Construction of the Rincon lithium plant began last year, including expansions to the on-site camp and the development of necessary infrastructure. Rio Tinto has already begun shipping its first lithium from the project. First production is anticipated in 2028, with a three-year ramp-up period to reach full capacity. The Rincon project is projected to have a mine life of 40 years.
Company Statement
Jérôme Pecresse, Rio Tinto’s Chief Executive Aluminium & Lithium, stated that the financing package diversifies the company’s funding sources and supports the execution of its lithium growth pipeline. He highlighted the attractive long-term outlook for lithium, driven by the global energy transition.
About Rio Tinto
Rio Tinto is a diversified mining company with operations worldwide. The company is focused on producing materials essential for the energy transition, including lithium, aluminum, and copper. Reuters reported on the financing deal on March 10, 2026.
Contact Information:
- Media Relations, United Kingdom: Matthew Klar (+44 7796 630 637), David Outhwaite (+44 7787 597 493)
- Media Relations, Australia: Matt Chambers (+61 433 525 739), Alyesha Anderson (+61 434 868 118), Rachel Pupazzoni (+61 438 875 469), Bruce Tobin (+61 419 103 454)
- Media Relations, Canada: Simon Letendre (+1 514 796 4973), Malika Cherry (+1 418 592 7293), Vanessa Damha (+1 514 715 2152)
- Media Relations, US & Latin America: Jesse Riseborough (+1 202 394 9480)
- Investor Relations, United Kingdom: Rachel Arellano (+44 7584 609 644), David Ovington (+44 7920 010 978), Laura Brooks (+44 7826 942 797), Weiwei Hu (+44 7825 907 230)
- Investor Relations, Australia: Tom Gallop (+61 439 353 948), Eddie Gan-Och (+61 477 599 714)
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