Rio Tinto secures $1.175 billion financing package for Rincon lithium project in Argentina
NEW YORK, March 10, 2026--Rio Tinto has secured a $1.175 billion financing package from four international lenders to support development of the Rincon lithium project in Argentina’s Salta Province.
NEW YORK, March 10, 2026--(BUSINESS WIRE)--Rio Tinto has secured a $1.175 billion financing package from four international lenders to support development of the Rincon lithium project in Argentina’s Salta Province. The package comprises loans from the International Finance Corporation (IFC), IDB Invest, Export Finance Australia (EFA) and the Japan Bank for International Cooperation (JBIC). The proceeds will be used to support development of the $2.5 billion Rincon lithium project, which is targeting approximately 60,000 tonnes1 of annual battery grade lithium carbonate capacity. Construction of the plant started last year including camp expansion works and development of site infrastructure.
First production is expected in 2028 with a three-year ramp-up to full capacity. Rincon is expected to have a 40-year mine life. Rio Tinto’s Chief Executive Aluminium & Lithium Jérôme Pécresse said: "This financing package broadens our funding sources for the Rincon project and supports the continued execution of our lithium growth pipeline, which is underpinned by the attractive long-term outlook driven by the energy transition. We appreciate the strong support from IFC, IDB Invest, Export Finance Australia and JBIC as we progress the Rincon project." _____________________________________ 1 A production target of approximately 53 kt of battery grade lithium carbonate per year for a period of 40 years was previously reported in a release to the ASX dated 4 December 2024 titled "Rincon Project Mineral Resources and Ore Reserves: Table 1".
Rio Tinto confirms that all material assumptions underpinning that production target continue to apply and have not materially changed. Plans are in place to build for a capacity of 60 kt of battery grade lithium carbonate per year with debottlenecking and improvement programs scheduled to unlock this additional throughput. View source version on businesswire.com: https://www.businesswire.com/news/home/20260310987081/en/ Contacts Please direct all enquiries to: media.enquiries@riotinto.com Media Relations, United Kingdom Matthew Klar M +44 7796 630 637David Outhwaite M +44 7787
597 493 Media Relations, Australia Matt Chambers M +61 433 525 739Alyesha Anderson M +61 434 868 118Rachel Pupazzoni M +61 438 875 469Bruce Tobin M +61 419 103 454 Media Relations, Canada Simon Letendre M +1 514 796 4973Malika Cherry M +1 418 592 7293Vanessa Damha M +1 514 715 2152 Media Relations, US & Latin America Jesse Riseborough M +1 202 394 9480 Investor Relations, United Kingdom Rachel Arellano M +44 7584 609 644David Ovington M +44 7920 010 978Laura Brooks M +44 7826 942 797Weiwei Hu M +44 7825 907 230 Story Continues Investor Relations, Australia Tom Gallop M +61 439 353 948Eddie Gan-Och M +61 477 599 714 Rio Tinto plc 6 St James’s SquareLondon SW1Y 4ADUnited KingdomT +44 20 7781 2000Registered in EnglandNo.
719885 Rio Tinto Limited Level 43, 120 Collins StreetMelbourne 3000AustraliaT +61 3 9283 3333Registered in AustraliaABN 96 004 458 404 riotinto.com Category: Rincon