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According to its global CEO, Simon Trott, the company has committed US$4.4 billion in investment in Argentina and is also seeking to expand into copper.
By Panorama Minero
Rio Tinto's global CEO, Simon Trott, announced in Catamarca that the company will add a third lithium plant to the two it already operates at the Salar del Hombre Muerto. The new facility would be Fénix 2 and, although he did not specify when it would begin operations, the plan is for the project to also enter the Large Investment Incentive Regime (RIGI).
The company executive was in Catamarca for the inauguration of the Fénix 1B and Sal de Vida plants. During a press conference, Rio Tinto confirmed that it is exploring opportunities to invest in copper.
A Growing Portfolio
Speaking to journalists, Trott noted that following the acquisition of Arcadium Lithium in 2025, Rio Tinto became Argentina's largest lithium producer, with assets including Fénix in Catamarca and Olaroz in Jujuy.
The company has committed US$4.4 billion in investment across Catamarca, Salta and Jujuy.
Fénix 1B was approved under the RIGI through Resolution 431/2026, with an investment plan of US$531 million. Sal de Vida began production ahead of schedule, completed its first shipments and is progressing towards a target capacity of approximately 15,000 tonnes per year of lithium carbonate equivalent (LCE).
Regarding Fénix 2, Trott did not provide a timeline, but the company intends for the project to also qualify under the regime.
Copper Becomes Part of the Strategy
Trott outlined the company's global plans:
“We currently produce 800,000 tonnes worldwide, and the plan is to reach 1 million, including Argentina. We have minority interests here. We are now exploring; there is no specific location. We are looking,” he said.
Regarding the destination of these investments, he stated: “Argentina will be one of our key destinations for the projects I have just mentioned,” referring to lithium and copper.
Rio Tinto currently has no wholly owned operating copper mines in Argentina. It participates through technological and strategic investments in key projects, such as Los Azules in San Juan, according to the same source.
Trott did not specify where the company plans to invest in copper.
Policies and Infrastructure
Asked about the potential impact of the 2027 elections, Simon Trott replied:
“We are more interested in policies than in politics. And we are confident that the policies will continue regardless of who wins the elections.”
Regarding infrastructure, one of the sector's main bottlenecks, he said:
“Infrastructure is one of the issues that matter most to us. It is essential because it is also important for communities. Infrastructure has been built and will continue to be built. We care about all infrastructure, not just railways.”
What the Company Has Yet to Define
The company has not announced a start-up date for Fénix 2 or identified a specific location for its copper projects.
According to Governor Raúl Jalil, during the visit Trott was able to gain first-hand knowledge of Catamarca's potential, the work of local suppliers and the opportunities the province offers for new investments.