The acquisition of the Australian company Arcadium Lithium by Rio Tinto positions it as a global leader in the supply of materials for the energy transition and as one of the main lithium producers worldwide. This purchase provides it with one of the largest lithium resource bases in the world.
With the completion of the Arcadium Lithium acquisition, Rio Tinto becomes the leading lithium producer in Argentina, controlling and operating two of the six projects currently in production in the country. The company has also expressed its intention to invest US$ 2.5 billion, following the acquisition agreement priced at US$ 6.7 billion. This allows it to control the Salar de Olaroz project in Jujuy, in addition to having the Fénix projects in Catamarca and the upcoming Rincón Litio project in Salta.
Jakob Stausholm, CEO of Rio Tinto, stated: "We believe we are well positioned to supply the materials needed for the energy transition, while maintaining our focus on respecting local communities, minimizing environmental impacts, and generating value for shareholders and other stakeholders."
Headquartered in London and operating worldwide, Rio Tinto is a leading mining company that began its operations in 1873. It is one of the largest companies in the world and stands out in the global iron, aluminum, and copper markets. Previously, the company operated in Mendoza with Potasio Río Colorado until 2009, when it sold the project to the Brazilian miner Vale.
Regarding its future plans, Rio Tinto Lithium aims to increase the capacity of its level 1 assets to more than 200 thousand tons per year of lithium carbonate equivalent (LCE) by 2028, according to an official company statement.
