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.