Mining corporation Rio Tinto has officially launched two lithium projects in the Catamarca province of Argentina: the Fenix-1B expansion and the Sal de Vida plant. The company invested approximately $1.4 billion into these operations, which began production in the second quarter of 2026 ahead of the original schedule.
The Fenix-1B expansion adds 10,000 tonnes of annual lithium carbonate equivalent capacity to the existing Fenix site, bringing its total output to 40,000 tonnes. The new Sal de Vida facility is designed for an annual capacity of 15,000 tonnes. Combined, both projects are expected to reach a total annual production capacity of 25,000 tonnes of lithium carbonate equivalent.
Rio Tinto is pursuing a global target of 200,000 tonnes of annual lithium carbonate equivalent production by 2028. The company is also developing the Rincon project in the Salta province, which is slated to begin commercial operations in 2028 with a projected long-term capacity of 60,000 tonnes per year.
Under CEO Simon Trott, who took office in August 2025, the company has reorganized into three business units covering iron ore, aluminium with lithium, and copper. Recent strategic moves include the $6.7 billion acquisition of Arcadium in 2024 and investments in the Canadian firm Nemaska Lithium, while the Jadar project in Serbia remains paused.
