Diversified mining giant Rio Tinto is doubling down on its lithium ambitions in South America’s Lithium Triangle, with CEO Jakob Stausholm calling the region “the right place” to meet soaring global lithium demand.
Speaking at the recent Bank of America conference, Stausholm outlined Rio Tinto’s lithium strategy, anchored by its Rincon project in Argentina and strengthened by its acquisition of Arcadium Lithium. This combination positions Rio as one of the largest lithium holders globally.
The Rincon project is currently operating at pilot scale, with full-scale development underway. Stausholm emphasized the importance of integrating Rincon with Arcadium under the leadership of Paul Graves, calling it central to Rio’s lithium growth plans.
“We are the leader in DLE [direct lithium extraction] technology and can deliver production at the lowest cost point, which makes us very optimistic,” Stausholm said.
He acknowledged that lithium was once viewed as too niche for major miners but noted the global shift towards electric vehicles and battery storage has changed that perception.
“If you think yesterday, you’re right. If you think tomorrow, you’re wrong,” Stausholm said. “In my view, the brines in the Lithium Triangle are the right place for the world to source lithium—and the most efficient place for miners to lower costs.”
While some skepticism remains around DLE technology, Stausholm pointed to Arcadium’s 28-year track record as proof of its viability. “This isn’t a three-month pilot—we’re the world leader in DLE technologies. There’s no doubt DLE is the solution of the future.”
On supply strategy, Stausholm stated that Rio Tinto favors brine-based lithium over hard-rock projects, citing cost advantages. .
Although Rio holds high-quality hard-rock prospects in Canada, he acknowledged that China’s dominance in refining capacity presents ongoing challenges for hard-rock lithium.
“We’ve concluded we can achieve lower costs and better grades with brine,” he said. “With on-site DLE, we can go straight to battery-grade lithium and compete with even the top Chinese operators.”
Stausholm also voiced strong confidence in Argentina’s investment climate, highlighting recent legislative reforms under the Promotional Regime for Large Investment (RIGI), which aims to provide greater legal and fiscal stability.
“There’s no country that has gone bankrupt more often than Argentina, so legal certainty matters,” he said. “But I feel very comfortable investing in Argentina now.”
Following the Arcadium acquisition, Stausholm noted that Rio Tinto is not pursuing further M&A in lithium.
He described the deal as offering both organic and inorganic growth opportunities, concluding, “We absolutely don’t need to do more M&A—it’s now up to us to deliver for our shareholders.”
