Rio Tinto Opens ~$1.4B Lithium Projects in Argentina
Catamarca – October 29, 2026 -- Rio Tinto has formally opened its Fénix 1B expansion and Sal de Vida operation in Argentina's Catamarca province after a combined investment of around $1.4 billion, adding 25,000 tonnes of annual lithium carbonate equivalent (LCE) capacity once fully ramped up.
Both projects reached first production in the second quarter, ahead of plan
Both assets are now ramping up. Argentine President Javier Milei and Catamarca Governor Raúl Jalil joined Rio Tinto Chief Executive Simon Trott at the inauguration, along with employees, suppliers and representatives of local and Indigenous communities.
Milei called the Fénix expansion a historic milestone and said Argentina had again created incentives for producing essential resources.