The Investment Whisperer
  • Business
  • Politics
  • Investing
  • World
  • Business
  • Politics
  • Investing
  • World

The Investment Whisperer

Investing

Rio Tinto Shares Initial Resources and Ore Reserves for Rincon Lithium Project

by admin December 9, 2024
December 9, 2024
Rio Tinto Shares Initial Resources and Ore Reserves for Rincon Lithium Project

Rio Tinto ( ASX:RIO,NYSE:RIO,LSE:RIO) released an initial mineral resources and ore reserves report for its 100 percent owned Argentina-based Rincon project on Wednesday (December 4).

Mineral resources inclusive of ore reserves comprise 1.54 million tonnes of lithium carbonate equivalent in the measured category, with 7.75 million tonnes in the indicated category and 2.29 million tonnes in the inferred category.

Probable ore reserves are made up of 2.07 million tonnes of lithium carbonate equivalent.

Rincon was acquired by Rio Tinto from Rincon Mining in March 2022. It is located in the Lithium Triangle of Argentina’s Salta province, which hosts more than half of the world’s lithium reserves.

A feasibility study for the property outlines full-scale production of approximately 53,000 tonnes of battery-grade lithium carbonate annually over a 40 year mine life. Subject to permitting, Rio Tinto plans to expand production at the site to 60,000 tonnes per year via debottlenecking and improvement programs.

The company expects to make a final investment decision on full-scale operations at Rincon toward the end of 2024.

A pilot battery-grade lithium carbonate plant with a capacity of 3,000 tonnes is currently in development. According to the company, it is scheduled for completion in the first half of 2025.

Argentina’s lithium reserves are the third largest in the world, standing at 3.6 million tonnes. The country is also the fourth largest lithium producer in the world, producing 9,600 tonnes of the metal in 2023.

Securities Disclosure: I, Gabrielle de la Cruz, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

0
FacebookTwitterGoogle +Pinterest
previous post
Drilling Commences at Odienne Gold Project
next post
S2 Resources Signs Earn-in Deal with Valkea for Three Gold Projects in Victoria

Related Posts

5 Top Weekly TSXV Stocks: Wolfden Resources Leads...

February 13, 2024

Matt Geiger: Juniors at Inflection Point, Plus “Insane”...

October 31, 2024

BHP Contributes C$250,000 for Conservation of Saskatchewan’s Meewasin...

September 23, 2024

Couloir Capital is Pleased to Announce It Has...

April 16, 2025

Precious Metals & Critical Minerals Hybrid Investor Conference...

May 17, 2025

Daydream-2 Operations Concluded

October 8, 2024

CSE Bulletin: Suspension – Green River Gold Corp.

April 2, 2025

Strategy Update and Cost Restructure

January 28, 2025

2 Biggest Medical Device ETFs in 2025

February 18, 2025

BTR accelerates Second Fortune high-grade mine development

December 5, 2024

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Categories

    • Business (1,511)
    • Investing (3,924)
    • Politics (5,236)
    • World (4,762)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: TheInvestmentWhisperer.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 TheInvestmentWhisperer.com | All Rights Reserved