Río Tinto secures US$1.175 billion financing package for its Rincón lithium project in Argentina

Mitrani Caballero and Norton Rose Fulbright have advised a group of international lenders led by the International Finance Corporation (IFC) on a US$1.175 billion financing package for Río Tinto’s Rincón lithium project in Argentina. The lender group also includes the Inter-American Investment Corporation (IDB Invest), the Japan Bank for International Cooperation (JBIC) and Export Finance Australia (EFA). White & Case and Martínez de Hoz & Rueda advised Rio Tinto on the transaction.

The financing supports the development of the Rincón lithium brine project, located in the province of Salta, in northwestern Argentina. The total investment in the project is estimated at approximately US$2.5 billion, targeting approximately 60,000 tonnes of annual battery-grade lithium carbonate production capacity. Lithium is a critical element in the manufacturing of batteries that power clean energy technologies, including electric vehicles. The Rincón project is being developed under Argentina’s Régimen de Incentivo para Grandes Inversiones (RIGI), having been the first mining project approved under this framework. The RIGI is designed to attract large-scale investments by offering tax, customs and foreign exchange incentives to projects that meet certain capital thresholds, reinforcing Argentina’s pro-investment policy on critical minerals.

The Rincón lithium project reinforces Argentina’s position as a leading global producer of lithium. By producing battery-grade lithium carbonate at scale, the project is expected to support local employment and economic diversification in the province of Salta while strengthening global supply chains for critical minerals. Additionally, investments in workforce training will equip local workers with sustainable, high-quality skills and positions, delivering enduring benefits to neighboring communities.

Our partner Julio Martínez led the team including Matias Olcese, Corina Laudato, Javier Errecondo, Laura Huerta, Sofia Leggiero, Sofia Bonel Tozzi, Catalina Sarrabayrouse, Leonel Palomares, Graciana Ick and Santino Giannuzzi.

The deal was signed in March 2026.