Rio Tinto will invest $2.5 billion to increase production capacity at its Argentina lithium project, it said on Thursday, as it seeks to cement its position as one of the world's biggest miners of the battery metal.

Anglo-Australian mining giant announces US$2.5-billion investment in Rincón project in Salta Province, with chief executive praising Milei’s reforms and RIGI scheme.

Rio Tinto has approved an investment of $2.5bn (£1.98bn) to expand the Rincon project in Argentina, marking the company's first commercial-scale lithium operation. This investment aligns with its strategy to develop a robust battery materials portfolio.

Rio Tinto has doubled down on its lithium bet with a big investment in its Rincon lithium brine project, months after agreeing to buy Arcadium Lithium.

Rio Tinto (ASX:RIO) plans to invest $2.5bn at its Rincon lithium project in Argentina.

Rio Tinto has approved $2.5 billion1 to expand the Rincon project in Argentina, the company’s first commercial scale lithium operation, demonstrating its commitment to building a world-class battery materials portfolio.

Rio Tinto (ASX, NYSE: RIO) will invest $2.5 billion to increase production capacity at its Rincon lithium project in Argentina to 60,000 tonnes per year. Rincon is the company’s first commercial-scale lithium operation.

Rio Tinto Ltd (ASX:RIO) is leaning into lithium, with the company today announcing it will spend $2.5 billion to expand its Rincon project in Argentina – the mining heavyweight’s first commercial-scale lithium operation.