Rio Tinto Set to Invest $2.5B for Rincon Project in Argentina [Yahoo! Finance]
Rio Tinto Plc (RIO)
US:NYSE Investor Relations:
riotinto.com/investors-87.aspx
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Source: Yahoo! Finance
Rio Tinto Group RIO announced that it would invest $2.5 billion in its first commercial-scale lithium operation, the Rincon project, in Argentina. This move is in sync with Rio Tinto's goal to build a world-class battery material portfolio. Details on Rio Tinto's Rincon Project Rincon, a long-life asset, is designed to produce 60,000 tons of battery-grade lithium carbonate per year. This includes a 3,000-ton starter plant and a 57,000-ton expansion plant. The mine's ore reserves are 60% higher than what the company initially projected at the time of acquisition. It is expected to operate in the lowest quartile of the cost curve. The project employs direct lithium extraction technology. The use of this process promotes water conservation, lowers waste and yields lithium carbonate more consistently than other processes. Rio Tinto expects the mine life of Rincon to be 40 years. The mine's first production is scheduled for 2028, following a three-year ramp-up to full capacity. Th
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- Appointment of Chief Financial Officer [Yahoo! Finance]Yahoo! Finance
- Midland, in Partnership With RTEC, Continues to Intersect Spodumene Pegmatites on the Galinée Project [Canadian Business Journal (Canada)]Canadian Business Journal
- Rio Tinto appoints new Chief People Officer [Yahoo! Finance]Yahoo! Finance
- Rio Tinto appoints new Chief People OfficerBusiness Wire
- Palliser Capital Announces Submission of Resolution to Rio Tinto Calling for Independent Review on Unifying Dual Listing [Yahoo! Finance]Yahoo! Finance
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Sec Filings
- 10/9/24 - Form DEFA14A
- 10/9/24 - Form DEFA14A
- 10/2/24 - Form 6-K
- RIO's page on the SEC website