Export Finance Australia supports exporters through financing for Rio Tinto's Rincón Lithium Project
Export Finance Australia (EFA) has signed a US$275 million financing facility to support Australian exporters participating in Rio Tinto’s Rincón Lithium Project in Salta, Argentina - a major emerging source of battery-grade lithium.
Media release
11 March 2026
Export Finance Australia (EFA) has signed a US$275 million financing facility to support Australian exporters participating in Rio Tinto’s Rincón Lithium Project in Salta, Argentina - a major emerging source of battery-grade lithium.
Rio Tinto’s US$2.5 billion investment forms part of its global battery‑materials strategy, with production expected to begin in 2028. The Project is targeting approximately 60,000 tonnes of annual battery grade lithium carbonate capacity, strengthening global critical minerals supply chains.
As part of its role in supporting Australian businesses in global supply chains, EFA’s finance will directly support Australian suppliers to participate in the Project and provide the equipment, technology, and specialised engineering services essential to the Project.
EFA’s financing will complement other international partners, including IDB Invest, International Finance Corporation (IFC) and Japan Bank for International Cooperation (JBIC). Citi acted as export credit agency coordinator for the transaction.
“Export Finance Australia plays an important role in enabling Australian businesses to compete globally,” said John Hopkins, Managing Director & CEO, EFA. “Supporting Australian suppliers to participate in major export opportunities like Rincón strengthens capability and competitiveness.”
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About Export Finance Australia
EFA is Australia’s export credit agency. EFA provides commercial finance for export trade and overseas investment and infrastructure development. From small and medium-sized enterprises to large corporates, foreign governments and infrastructure projects, it helps Australian businesses take on the world. In doing so, EFA’s finance supports Australia’s economic security and regional resilience.
EFA administers the Australian Government’s National Interest Account, which currently includes the Southeast Asia Investment Financing Facility, the Critical Minerals Facility, the Defence Export Facility and lending for the Australian Infrastructure Financing Facility for the Pacific. EFA also provides support to other Commonwealth entities, including Housing Australia and the Northern Australia Infrastructure Facility.
About Rio Tinto
We operate across 34 countries and 6 continents, where our 61,000+ employees are working to find better ways to provide the materials the world needs. Our core products – iron ore, copper, aluminium and lithium – are the building blocks of a cleaner, smarter future. To meet growing demand, we’re focused on keeping our people safe, while running and delivering world class operations and projects. And we’re committed to doing it responsibly – delivering lasting positive impact through deep expertise, strong social licence and long standing partnerships. Together, we’re solving global challenges and creating shared success.
