Argentina: Approval of $2.5 Billion Rio Tinto Lithium Project Under New Investment Regime

On May 20, 2025, Argentina approved Rio Tinto’s $2.5 billion Rincon lithium project in Salta, marking the first major initiative under the new RIGI investment regime. This framework offers tax breaks, customs benefits, and legal stability to attract large-scale foreign investment. The project is seen as a key step to strengthen Argentina’s role in the global lithium supply chain, especially for electric vehicle and clean energy technologies. Amid ongoing inflation, the government views mining as a strategic engine for growth, foreign exchange, and job creation. Rio Tinto’s approval signals renewed investor confidence in Argentina’s extractive sector.