Rio Tinto awards over $1.8B to Argentine suppliers

Rio Tinto has committed over $1.8 billion to Argentine suppliers to supply its Fénix and Olaroz lithium operations and develop projects including Sal de Vida, Fénix 1B, and Rincón. Across its tracked operating sites, purchase orders reached $696.2 million in 2025/2026, with Argentine companies receiving $550.6 million, or 79% of that total. Local vendors represent 1,682 of 1,805 suppliers, or 93% of the total supplier base, including 748 companies in northwestern Argentina (NOA) and 934 across the rest of the country, while 123 are international.

The $1.8 billion total also includes $941 million awarded to Argentine firms at the Rincón project in Salta and $310.7 million in Fénix 1B in Catamarca. Since its start in 2025, Rincón has issued $1.419 billion in purchase orders across 236 suppliers, with 182 Argentine vendors capturing 66% of that value. Community suppliers received $34 million, Salta firms took $428 million, and other provinces gathered $479 million. By June 2026, Rincón had disbursed $748 million in payments, including $483 million domestically and $265 million abroad, targeting 75% local content by completion.

At Fénix 1B, 411 of 413 suppliers are domestic, securing roughly 99% of total contract value with $310.7 million of approximately $312 million. The NOA region captured 73% of that amount, and Catamarca alone received $153.6 million. In addition, an industry report indicates Rincón accumulated $72.5 million in imports, while the Fénix expansion recorded $1.8 million in overseas equipment purchases.

On October 7, 2026, the company launched a regional vendor portal at a mining seminar in Jujuy to let local firms register and present capabilities. Ignacio Costa, general manager of Rio Tinto in Argentina, stated that the group seeks to build long-term relationships with competitive suppliers. Meanwhile, an investment round linking 28 large investment projects under the RIGI incentive regime with national suppliers is scheduled for October 29 in Rosario.