On Wednesday, Rio Tinto (NYSE:RIO) has unveiled the initial resource and reserve estimates for its Salar del Rincon lithium brine project in Salta, Argentina. With this project underway, Rio Tinto is strengthening its operations in a quickly growing mining market, where it established a foothold with an acquisition of Arcadium Lithium.
The firm reported Rincon to contain 1.54 million tons of lithium carbonate equivalent (LCE) in measured resources, 7.85 million tons of LCE in indicated resources, and an additional 2.29 million tons in inferred resources. The ore reserves include 2.07 million tons of LCE in the probable category.
