The Anglo-Australian group officially opened the Sal de Vida plant and Fénix 1B expansion in Argentina’s Catamarca province on October 28, 2026, adding a combined 25,000 metric tonnes of annual lithium carbonate equivalent production capacity.
According to Reuters, the investment strengthens Rio Tinto’s position in the global lithium market as demand increases for minerals used in electric vehicles and battery storage systems.
The company ranked fourth among publicly listed mining groups by market capitalisation in October 2026, with an estimated valuation of $139.4 billion.
Rio Tinto expands lithium production in Argentina
Sal de Vida is expected to produce 15,000 tonnes of lithium carbonate equivalent annually, while the Fénix 1B expansion will contribute another 10,000 tonnes once both facilities reach full capacity.
Rio Tinto is also developing its Rincón project in Argentina’s Salta province, targeting annual production capacity of 60,000 tonnes as part of its broader ambition to reach 200,000 tonnes of global lithium capacity by 2028.
Speaking at the inauguration, chief executive Simon Trott outlined the company’s production ambitions.
“We live in an era in which the world needs more lithium. At Rio Tinto, we have set ourselves the goal of reaching 200,000 tons of annual production capacity, with opportunities to raise that figure much higher,” Trott said.
The expansion relies partly on direct lithium extraction technology, which can shorten processing times compared with conventional evaporation methods, although questions remain about operating costs and commercial scalability.
Rio Tinto’s investments extend across Africa
Beyond Argentina, Rio Tinto is advancing its estimated $6.2 billion funding commitment to Guinea’s Simandou iron ore project, one of Africa’s largest mining and infrastructure developments.
The investment forms part of an $11.6 billion programme covering the SimFer mine and associated railway and port infrastructure.
Simandou is designed to support annual exports of up to 120 million tonnes of iron ore at full capacity, with Rio Tinto’s SimFer joint venture responsible for blocks three and four, targeting 60 million tonnes.
The development recorded its first iron ore shipment in December 2025, with further construction continuing in 2026.
Meanwhile, Rio Tinto approved a $473 million investment in March 2026 to restart the Zulti South mineral sands project at Richards Bay Minerals in South Africa.
The project, suspended since 2020, is expected to extend operations until 2050, with initial commercial production scheduled for late 2028.
Beyond Guinea and South Africa, the mining group also maintains mineral sands operations in Madagascar through QIT Madagascar Minerals, which produces ilmenite for international industrial markets.
The investments span different commodity markets, with Rio Tinto’s Argentine operations focused on lithium for battery manufacturing, while its African projects supply iron ore and minerals used in construction, manufacturing and other industries.
Source: africa.businessinsider.com
