What is Rio Tinto's target lithium production capacity by 2028, and how does it plan to achieve it?

Rio Tinto aims to have the capacity to produce 200,000 metric tons of lithium per year by 2028, driven by the integration of assets acquired through its 2023 acquisition of Arcadium—including mines, processing facilities, and deposits across four continents—as well as planned new operations in Argentina and Canada. The company is prioritizing low-cost assets and direct lithium extraction (DLE) projects, with one DLE project expected to launch within a few years, and emphasizes building on time and on budget to fulfill long-term customer contracts with price floors and ceilings.

How does Rio Tinto’s strategic approach to lithium differ from a simple volume or market-share focus?

Rio Tinto explicitly rejects targeting a specific global ranking—such as becoming number one or three lithium producer—and instead focuses on owning a 'set of assets that are big enough to give us relevance with customers', prioritizing long-term contractual relationships with price protections over market dominance; this strategy is grounded in selective, low-cost asset development—including upcoming mines in Argentina and Canada—and leveraging Arcadium’s integrated footprint rather than pursuing further acquisitions.

Rio Tinto sees lithium as fastest-growing division, executive says

Jun 23, 2026

Rio Tinto plans to triple lithium production capacity to 200,000 metric tons by 2028 following its Arcadium acquisition, leveraging Direct Lithium Extraction technology despite current market volatility.

reuters

Rio Tinto Sees Lithium as Fastest-Growing Division, Executive Says

Investing.com Canada

2025-11-14

Rio Tinto suspends Serbia’s Jadar lithium project

2026-01-30

Chinalco and Rio Tinto Jointly Acquire Brazilian Aluminum Assets for Over 6 Billion RMB

2026-04-07

Rio Tinto Sets FX Rates for 2025 Final Dividend Ahead of 16 April Payout

2026-04-08

Rio Tinto Shares Jump 4.1% Following Seabed Mining Spinoff Announcement, Considers $1B Investment in Deep-Sea Mining Project