07:41 AM EST, 12/12/2024 (MT Newswires) -- Rio Tinto (RIO) said Thursday it will invest $2.5 billion to expand capacity at its Rincon lithium project in Argentina to 60,000 tonnes of battery grade lithium carbonate annually.

The company said it expects to begin construction of the expansion plant, which will have a capacity of 57,000 tonnes, in mid-2025, with first production anticipated in 2028.