France's Eramet picks up construction of Argentina lithium plant

11 November 2021 08:00

French miner Eramet has restarted the construction of its lithium plant in Argentina as it looks to leverage strong growth momentum in delivering a metal crucial in the energy transition.

The construction of the plant, with an annual production of 24,000 tonnes of lithium will start during the first quarter of 2022 with operations expected to start in 2024.

Eramet will control the project, with a 50.1% interest, and will retain operational management responsibility; its partner Tingsha will finance the plant construction in exchange of a 49.9% interest in the project. The size of the deposit will enable further capacity expansion to be considered through the construction of other similar plants by the two partners.

Christel Bories, Eramet group Chair and CEO said: "Our decision to carry out our lithium project in Argentina is in line with the dynamic of strong market growth. It is a key milestone in the deployment of our strategic roadmap which aims at positioning Eramet as a reference player in metals for the energy transition."

"As a result of this investment, Eramet will become the first European company to operate a sustainable and large-capacity lithium industrial complex: we take pride in this project and see an opportunity for Europe’s sovereignty to secure tomorrow’s critical metals."

For this project with high-value creation potential, the miner has partnered with Tsingshan will provide its industrial expertise and financing capabilities needed for the construction of the plant.

Since the early phases of the project in 2019, the teams have remained highly committed, preserving the assets and maintaining strong relationships with all stakeholders. It is now ready to engage the site’s development in the best conditions with initial production expected from 2024.

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