Rio Tinto will spend $US825 million ($1.15 billion) to accelerate its push into lithium by acquiring an undeveloped project close to Orocobre’s flagship Olaroz operation in Argentina.

Rio will acquire the Salar del Rincon project from Sydney private equity group Sentient Equity Partners. The deal comes after months of community opposition to Rio’s $US2.4 billion plan to build Europe’s biggest lithium mine in Serbia’s Jadar Valley.