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Rio Tinto (ASX:RIO,NYSE:RIO,LSE:RIO) opened two lithium operations in Argentina's Catamarca province on Thursday (October 29), which is touted to add 25,000 metric tons of annual lithium carbonate equivalent (LCE) capacity once fully ramped up.
To date, Rio Tinto has invested roughly US$1.4 billion in the Fénix 1B expansion and the new Sal de Vida operation. Both reached first production ahead of plan in the second quarter and are now ramping up.
Fénix began operating in 1997 as Argentina's first commercial lithium operation. The 1B expansion adds 10,000 metric tons of annual LCE capacity there, which raises the operation's total target to about 40,000 metric tons. Sal de Vida sits roughly 20 kilometers northeast of Fénix and targets 15,000 metric tons a year.
CEO Simon Trott linked the two projects to Rio Tinto's global target of 200,000 metric tons of annual LCE production capacity by 2028.
"Our focus now is on safely ramping up production, delivering reliable, high-quality lithium to our customers, and creating lasting value for our shareholders and Argentina," Trott said.
In Salta, Rio Tinto is building the US$2.5 billion Rincon project, which targets approximately 60,000 metric tons of annual battery-grade lithium carbonate capacity.
In March, the company secured a US$1.175 billion financing package for Rincon from four lenders.
Construction at Rincon started in 2025. Rio Tinto expects first production in 2028, followed by a three-year ramp-up to full capacity running across an expected lifespan of 40 years.
Outside Argentina, Rio Tinto took majority control of Nemaska Lithium (TSX:NMX) in Québec in February this year with a 53.9 percent stake and assumed direct management of the company. The Québec government holds the remaining 46.1 percent through Investissement Québec.
Rio Tinto said it plans to invest more than US$300 million in its Québec lithium business this year.
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Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.