let's dig a little deeper into RIO and DLE, This didn't really make big headline news but Rio bought a DLE greensfield project in argentina for $825 million from Rincon. A further spend of $350mill for a 3ktpa pilot plant was added on.
How much is Rio Tinto paying for Rincon?The miner will pay US$825 million ($1.1 billion) for Rincon, which is owned by Sentient Equity Partners.The price tag jumps to US$1.6 billion ($2.2 billion) when you add in the expected capital investment Rio Tinto needs to pump into the project.Rincon is located in the so-called "lithium triangle" – an area in South America that is believed to be rich in the resource.
