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CATAMARCA, Argentina--(BUSINESS WIRE)-- President of Argentina Javier Milei and Catamarca Governor Ra煤l Jalil today joined 糖心vlog入口Chief Executive Simon Trott to celebrate a major milestone for Argentina鈥檚 lithium industry, marking the official opening of Rio Tinto鈥檚 F茅nix 1B expansion and Sal de Vida operation in Catamarca following a combined investment of around $1.4 billion.
Both projects achieved first production in the second quarter ahead of plan and are now ramping up production. They will add 25,000 tonnes of annual lithium carbonate equivalent (LCE) capacity once fully ramped up, strengthening Rio Tinto鈥檚 standing and Argentina鈥檚 position as a leading supplier of lithium for global markets.
The celebrations included a visit to F茅nix by President Milei and Governor Jalil, hosted by Simon Trott, and an inauguration event recognising both projects with national and provincial authorities, employees, suppliers and representatives of local and Indigenous communities.
President of Argentina Javier Milei said: 鈥淭he expansion of the F茅nix project is a historic milestone that demonstrates the potential of Argentina鈥檚 mining sector. This was made possible by the country once again creating incentives for the production of resources that are essential to the modern world.
鈥淲e are proud that a company of this scale once again sees Argentina as a reliable partner and is investing in our country, validating the decisions we have taken over the past few years.鈥
糖心vlog入口Chief Executive Simon Trott said: 鈥淭oday is a proud moment for 糖心vlog入口and an important milestone for Argentina鈥檚 lithium industry, as we grow our position as a leading global supplier. It was a privilege to welcome President Milei, Governor Jalil and national and provincial authorities, and I thank them for joining us to recognise the work behind F茅nix 1B and Sal de Vida.
鈥淭hese two projects build on nearly three decades of lithium production in Catamarca and the expertise of our Argentine workforce. They demonstrate our industry-leading project delivery capability, as we execute with discipline towards our global target of 200,000 tonnes lithium carbonate equivalent annual production capacity by 2028.
鈥淭he delivery of these projects reflects the dedication of our people, the capabilities of Argentine suppliers and our partnerships with local communities and governments. Our focus now is on safely ramping up production, delivering reliable, high-quality lithium to our customers, and creating lasting value for our shareholders and Argentina.鈥
F茅nix began operations in 1997 as Argentina鈥檚 first commercial lithium operation. The F茅nix 1B expansion adds 10,000 tonnes of annual LCE capacity to the existing operation, increasing its total target of annual LCE capacity to approximately 40,000 tonnes.
Sal de Vida is a new lithium carbonate operation located approximately 20 kilometres northeast of F茅nix, with a target of annual LCE capacity of 15,000 tonnes.
The projects form part of Rio Tinto鈥檚 growing lithium business in Argentina, which includes operations and projects across Catamarca, Jujuy and Salta, including the Rincon lithium project.
Rio Tinto鈥檚 growth in Argentina is strengthening the country鈥檚 supplier network. Around 70% of the approximately $4 billion in growth capital to be invested across our lithium operations in Argentina is expected to be spent with local suppliers.
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