Rio Tinto [ASX:RIO] is set to acquire the Rincon Resources Ltd [ASX:RCR] lithium project in Argentina for $825 million.
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The benchmark S&P/ASX 200 [ASX:XJO] is inching higher on Tuesday morning, propelled by a rebounding iron ore price which pushed the big miners Fortescue Metals Group [ASX:FMG] and Rio Tinto [ASX:RIO] higher.