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5mo ago

Argentina Approves $530 Million Expansion of Rio Tinto’s Fénix Lithium Project

The approval highlights RIGI incentives that draw long‑horizon mining capital to lift jobs and exports.

El proyecto Fénix, en el Salar del Hombre Muerto, sumará producción de litio tras la aprobación de su ampliación bajo el RIGI.
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Overview

  • Argentina’s RIGI Evaluator Committee approved Thursday a $530 million phase 1B expansion at Fénix that adds 9,500 tonnes a year of lithium capacity.
  • Located in the Salar del Hombre Muerto in Catamarca, the project is slated to create about 1,143 construction jobs and 504 operating jobs for local workers.
  • The Economy Ministry said the larger output would bring in roughly $165 million in export revenue each year once the new capacity comes online.
  • RIGI, a program that offers up to 30 years of tax and regulatory stability with incentives such as lower income tax, VAT exemptions on investments, and zero import tariffs, will cover about $251 million of the spend.
  • Rio Tinto is also advancing its Rincón (Salta) and Sal de Vida (Catamarca) projects and bolstered its lithium unit with the $6.7 billion Arcadium purchase, while officials report about 40 projects in RIGI and up to 20 more expected by mid‑2027.