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16h ago

Argentina Court Processes Rio Tinto Unit Over Alleged Lithium Export Contraband

The case moves into the instruction stage over alleged under‑pricing of 2022–2023 exports that court experts say cost the treasury more than US$200 million.

Proyecto Salar de Rincón, en Salta, de la minera Río Tinto.
Especializada principalmente en minerales de hierro, cobre y aluminio, Rio Tinto encaró su primer proyecto de litio en la Argentina en 2021, con la compra de los derechos de explotación en el salar Rincón
Seguimiento. El Ancasti advirtió de la irregularidad en mayo del 2022.
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Overview

  • Juzgado Nacional en lo Penal Económico N° 4 processed Minera del Altiplano and former president Luciano Antonio Mancuso, ordering a ARS 100 billion preventive embargo for each, travel bans, and asset inhibitions.
  • The filing alleges 146 shipments between June 2022 and October 2023 were declared 30% to 45% below market, with expert estimates of fiscal damage exceeding US$200 million.
  • The company operated as Livent during the period, later merged into Arcadium Lithium, and was acquired by Rio Tinto in 2024, which now rejects the charges and says it will appeal.
  • The defense argues the exports were cleared by Customs and priced under long‑term contracts rather than spot benchmarks, a position the judge said does not rule out a customs offense.
  • The court noted the firm previously paid more than ARS 5,300 million in AFIP fines for under‑invoicing, which does not extinguish criminal action, and confirmed the probe remains in the instruction phase.