Rio Tinto Group plans to invest $2.5 billion in a new lithium mine in Argentina in a win for President Javier Milei’s efforts to deregulate the country’s economy and lure foreign investment.The UK company plans to build a processing plant at the Rincon mine with an annual capacity of 60,000 metric tons of lithium carbonate.Following Milei’s election just over a year ago, Argentine lawmakers approved his marquee incentives program, known by its Spanish acronym RIGI, featuring tax, currency and trade benefits for energy and mining.
December 12, 2024
SOURCE: BNN BLOOMBERG
Rio Tinto’s $2.5 Billion Lithium Plan Is a Win for Milei