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).

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,

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