RIO Tinto To Review The Cost Estimate Of Rincon Lithium Project DUE To Escalating Costs
The world’s second-largest miner, Rio Tinto, indicates a potential review of the $140 million cost estimate and timeline for its Rincon lithium project in Argentina due to escalating costs. Rincon holds reserves of nearly 2 million tonnes of contained lithium carbonate equivalent, projected to provide a 40-year mine life. The asset plays a pivotal role in Rio Tinto’s plan to meet the growing demand for lithium, expected to rise 25-35% yearly over the next decade. However, committed lithium supply and capacity expansions are anticipated to cover only 15% of this demand growth over the 2020-2050 period.
Source: https://www.mining.com/rio-tinto-flags-cost-hike-at-argentina-lithium-project/
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