Mining company Rio Tinto, through its subsidiary Rincón Mining Pty Limited, aims to begin production at its Rincón Project, located in the Salar del Rincón in Salta Province, by late 2027 or early 2028. The initiative stands among Argentina’s most significant mining investments under the Large Investment Incentive Regime (RIGI), with a planned outlay of approximately US$2.5 billion over five years. The company is seeking to secure a financing line from the International Finance Corporation (IFC) to support part of the project’s development.
By Panorama Minero
The announcement was made by Ignacio Costa, General Manager of Rio Tinto Argentina, during a discussion with economist Santiago Bulat at the 14th edition of “Lithium in South America,” the international conference organized by Panorama Minero, which brought together more than 1,000 industry participants in Catamarca.
Costa recalled that Rio Tinto returned to Argentina with the Rincón Project and expanded its footprint significantly after acquiring Arcadium Lithium, a transaction that granted the company full ownership of the Fénix and Sal de Vida projects in Catamarca and Olaroz in Jujuy. “In Salta, Rincón has a planned capacity of 50,000 tonnes per year. It is the first project under the RIGI, with a US$2.5 billion investment over five years, and we have already begun construction of the plant. We believe production could start in 2027 or early 2028 if everything proceeds as expected,” he explained.
The executive cautioned, however, that timelines depend on multiple factors and emphasized the technical complexity of lithium production. “It’s not easy to produce lithium,” he remarked. Costa also highlighted the company’s ongoing collaboration with the IFC, with which Rio Tinto seeks to finalize a financing facility that meets the highest environmental and social standards. “It would be great news if that debt market opened for us and for other companies in Argentina,” he added.
Recently, the International Finance Corporation, a member of the World Bank Group, officially confirmed that it is evaluating a potential loan to support the construction and operation of the Salar del Rincón Project. In a statement, the IFC noted that its review “included the assessment of available environmental, health, safety, and social documentation,” covering a comprehensive range of technical and planning reports.
The IFC evaluation, conducted between March and September 2025, involved two on-site visits: the first focused on social aspects (completed in May) and the second on environmental aspects (completed in September). These missions examined both existing and planned infrastructure, key hydrological and biodiversity features, and included meetings with local communities, pastoral families, and other stakeholders.
If approved, the financing would position Rincón as one of the most advanced lithium projects in northern Argentina and the first to realize the benefits of the RIGI, a framework designed to attract large-scale investment to the country. For Rio Tinto, the project represents a definitive return to production in Argentina and further strengthens its position as a global leader in the transition toward a low-carbon economy.