12:00 AM EDT, 06/24/2026 (MT Newswires) -- Rio Tinto Group (RIO.L) is aiming to triple its lithium production by 2028 in preparation for an anticipated demand spike from the electric vehicle and battery storage markets, Reuters reported Tuesday, citing Jérôme Pécresse, head of the mining giant's aluminum and lithium business unit. Pécresse said preparations are underway for the opening of lithium mines in Argentina and Canada, with the lithium business expected to grow faster than the group's copper, iron ore, and other divisions. Rio Tinto is targeting a lithium output of 61,000 metric tons for full-year 2026 and plans to expand capacity to 200,000 metric tons by 2028. The group marked its foray in the lithium sector with the acquisition of US-based Arcadium in 2025.

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