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At its Rincon project, Rio is developing a small starter battery-grade lithium carbonate plant with capacity of 3,000 tonnes per year. will invest $350 million at its Rincon lithium plant in Argentina as it works to begin production by the end of the year, the company said this week following Chief Executive Jakob Stausholm’s visit to the site.
Rio Tinto, the world’s biggest iron ore producer, is one of the few large mining companies betting on lithium even as counterparts such as BHP stay away from investing in the metal, which is used in electric vehicle batteries. Rio Tinto said it is working with local communities and authorities to ensure environmental standards.
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