Rio Tinto slips; Macquarie trims PT post Rincon update
** Analysts at Macquarie say the ramp up of Rio Tinto's RIO.AX Rincon lithium project in Argentina infers a conventional evaporation process rather than a rapid production acceleration
** The world's largest iron ore miner last week said it plans to invest $2.5 billion to ramp up production capacity at the miner's Rincon lithium project in Argentina
** Trims PT by 1% to A$120; keeps stock rating at "neutral"
** RIO currently down 1.1%
** Brokerage prefers bigger mining rival BHP Group BHP.AX over RIO due to the former's higher quality, lower risk asset mix and more compelling valuation
** BHP shares currently down 1.7%
** RIO has fallen 11% this year, as of last close
Reporting by Rishav Chatterjee in Bengaluru; editing by Diane Craft
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