By Mathew Cohen Rio Tinto has secured approval for its $2.5bn lithium mining project in Argentina's Salta province, becoming the first mining venture to win backing under the government's Large Investment Incentive Regime (RIGI).

The government aims to bolster Argentina's mining industry to attract foreign currency and maintain economic stability.

Argentina's government on Tuesday approved a $2.5-billion lithium mining project by Anglo-Australian giant Rio Tinto, marking the first mining project under a new investment incentive regime. The approval of Rio Tinto's Rincon project,