Eramine Sudamerica is about to inaugurate its first lithium carbonate plant within the northern Argentine province of Salta this July, setting it on observe to turn out to be the South American nation’s fourth producer of the important thing battery steel.
The group, owned by French miner Eramet and Chinese language steelmaker Tsingshan, expects to supply some 3,000 tons this 12 months and ramp as much as some 24,000 tons by 2025, the corporate’s sustainability director Constanza Cintioni instructed Reuters in an interview.
Lithium, which is used for batteries in cellphones and electrical automobiles (EV), noticed its worth skyrocket over latest years, earlier than plunging in 2023 largely as a consequence of slowing EV gross sales in China. Over half the world’s recognized lithium assets are in South America.
Argentina, positioned on the so-called “lithium triangle” spanning Bolivia and Chile, is the world’s fourth-largest producer and has been drawing funding from international corporations so far as Canada and China.
This comes as libertarian President Javier Milei seeks to shore up depleted international reserves with {dollars} from mining, vitality and grains exports, to battle the nation’s sky-high inflation and its worst financial disaster in a long time.
The Eramine Sudamerica plant is positioned on the Centenario Ratones salt flat, some 1,400 kilometers northwest of Buenos Aires and 4,000 meters above sea degree.
Cintioni mentioned its output might be 100% exported and it has an anticipated helpful lifespan of 40 years. She estimated a complete funding of some USD 800 million and mentioned the agency plans to arrange an identical plant in the identical basin at a later date.
The plant marks the primary lithium carbonate plant in Salta and joins three others in Argentina, the place trade sources estimate lithium exports jumped 20% final 12 months.
There are two extra initiatives in Jujuy province, a undertaking by Gross sales de Jujuy and Allkem positioned on the Olaroz salt flat, and in Olaroz Cauchari a undertaking by Exar, a agency owned by China’s Ganfeng and Canada’s Lithium Americas.
The third undertaking is on the Hombre Muerto salt flat in Catamarca province, run by U.S. big Arcadium Lithium.
In contrast to different initiatives which extract lithium through brine evaporation from swimming pools, the Eramine Sudamerica plant will use a direct extraction technique.
“It is a far more environment friendly course of,” Cintioni mentioned, pointing to much less want for brine pumping. “The extent of lithium restoration from the brine that’s extracted is 90%.”
, saw its price skyrocket over recent years, before plunging in 2023 largely due to slowing EV sales in China. Over half the world's known lithium resources are in South America.){kind=link}