The Wolfson Centre for Bulk Solids Handling Technology Bühler GmbHMultimodal 2022Sailors SocietyTelestackPort of Stockton
  • Cimbria
  • Vigan
  • Sailors Society
  • Multimodal 2022
  • TBA Group
  • Port of South Louisiana

Rio Tinto completes acquisition of Rincon lithium project

Rio Tinto completes acquisition of Rincon lithium project

(Posted on 30/03/22)

Rio Tinto has completed the acquisition of the Rincon lithium projectin Argentina for $825 million, following approval from Australia’s Foreign Investment Review Board (FIRB).

A binding agreement to purchase the project from Rincon Mining, a company owned by funds managed by the private equity group Sentient Equity Partners, was announced in December 2021.

Rincon is a large undeveloped lithium brine project located in the heart of the lithium triangle in the Salta Province of Argentina, an emerging hub for greenfield projects. The project is a long life, scaleable resource capable of producing battery grade lithium carbonate. It has the potential to have one of the lowest carbon footprints in the industry.

Rio Tinto Chief Executive Jakob Stausholm said “Rincon strengthens our battery materials business and positions Rio Tinto to meet the double-digit growth in demand for lithium over the next decade, at a time when supply is constrained. We will be working with local communities, the Province of Salta and the Government of Argentina as we develop this project to the highest ESG standards.”

The direct lithium extraction technology proposed for the project has the potential to significantly increase lithium recoveries as compared to solar evaporation ponds. A pilot plant is currently running at the site and further work will focus on continuing to optimise the process and recoveries.

The market fundamentals for battery grade lithium carbonate are strong, with lithium demand forecast to grow 25-35% per annum over the next decade with a significant supply demand deficit expected from the second half of this decade.

This announcement is authorised for release to the market by Steve Allen, Rio Tinto’s Group Company Secretary.

Latest News

BHP inaugurates a new copper concentrator in Spence

(Posted on 18/05/22)

BHP CEO Mike Henry has led the opening of Spence's new copper concentrator plant.The project required... Read more


Schenck Process announces mining business sale to Sandvik

(Posted on 12/05/22)

Schenck Process, a global company for sustainable, integrated measuring and process technology solutions... Read more


BHP completes the divestment of its BMC interest

(Posted on 05/05/22)

BHP has completed the sale of its 80 per cent interest in BHP Mitsui Coal (BMC) to Stanmore SMC Holdings... Read more


NGFA testifies on rail service failures experienced by grain shippers

(Posted on 27/04/22)

The National Grain and Feed Association (NGFA) in the USA has testified before the Surface Transportation... Read more


Challenging Q1 re-emphasises need to lift Rio Tinto’s ops performance

(Posted on 20/04/22)

Rio Tinto has released its first quarter production results. Chief Executive Jakob Stausholm, said: &... Read more


Universities: sand produced by Vale a solution to sustainability

(Posted on 14/04/22)

A report by the University of Queensland and the University of Geneva indicates that sand from iron... Read more


20 Soy schemes pass FEFAC benchmarking process

(Posted on 12/04/22)

FEFAC and ITC have announced that five more schemes offering responsible soy products to the European... Read more


US ag groups urge flexibility amid food crisis threat

(Posted on 01/04/22)

The National Grain and Feed Association (NGFA) in the USA has urged Agriculture Secretary Tom Vilsack... Read more


Ukrainian Grain Association call for humanitarian aid

(Posted on 23/03/22)

Following Russia’s invasion of Ukraine, the Ukrainian Grain Association has launched an non-political... Read more


Bühler hands over first Prime Masa plant in India

(Posted on 18/03/22)

Bühler has handed over its first Prime Masa plant in India, the second Prime Masa plant worldwide... Read more


Van AalstCleveland Cascades LtdCimbriaTOC EventsViganPort of South Louisiana
  • Port of Stockton
  • Bühler GmbH

Subscribe to our newsletter

Keep up to date with the latest global news in bulk cargo handling and shipping