Norton Rose Fulbright advises lenders on US$1.175 billion financing for lithium project in Argentina

Global law firm Norton Rose Fulbright advised a group of international lenders on a US$1.175 billion financing package for the development of Río Tinto's Rincón lithium brine project located in the province of Salta in northwestern Argentina. The deal was signed on March 10, 2026.

The lender group for this funding includes International Finance Corporation (IFC), Inter-American Investment Corporation (IDB Invest), the Japan Bank for International Cooperation (JBIC) and Export Finance Australia (EFA). Total investment in the project is estimated to be approximately US$2.5 billion.

Construction of the facility began last year and is expected to conclude in 2028. Once fully operational, it is targeting approximately 60,000 tonnes of battery-grade lithium carbonate each year over its projected 40-year life-enough to power more than 1 million electric vehicles annually.

This is the first mining project approved for development under Argentina's Régimen de Incentivo para Grandes Inversiones (RIGI) framework, which was designed to attract large-scale investments by offering tax, customs and foreign exchange incentives to projects that meet certain capital thresholds. The plant will support local employment and economic diversification while strengthening global supply chains for critical minerals.

Norton Rose Fulbright's cross-border deal team was led by Jeremy Hushon (Washington, DC) and Daniel Metcalfe (London). Additional support was provided by Matt Hacking, Jens Nessow, Damian Flores, Priya Kahlon, Muchinda Muma, Lucy Reynolds (London), Micaela-Garcia-Ribeyro (Washington, DC), Jose Cobena Serrano (São Paulo), George Gibson, Akihiko Takamatsu, Yosuke Nomura (Tokyo), Nick Sinclair, Elouise Dellit and Jessica Jenke (Australia).