Rio Tinto Completes Rincon Lithium Acquisition
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.
“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,” Rio Tinto CEO Jakob Stausholm said. “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 optimize the process and recoveries.