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Rio Tinto says it will buy Argentine lithium project for US$825 million

RIO DE JANEIRO, BRAZIL - Rio Tinto Plc said today that it would buy the Rincón lithium project located in Argentina for US$825 million, as the company seeks to build its position as a supplier of battery materials.

The acquisition comes against a solid global demand for lithium as input for batteries used in electric cars. In contrast, another mining product, borate, is used in solar panels and wind turbines.

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"The Rincon project has the potential to deliver . . .

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