The South Korean miner Posco announced on Monday that it will invest 4,000 million dollars in a hydroxide project of lithium in Argentina, after meeting with local government authorities.
The investment will be in your project in the Dead Man’s Salt, on the border between the northern provinces of Salta and Catamarca. It expects to start with a production of 25,000 tons until reaching, once finished, 100,000 tons. Thus, it expects to generate foreign exchange from exports of 260 million dollars a year for the next 30 years.
“We give importance to both the environment and social issues, and our regional developments are with the creation of labor,” said the executive president of GossamerJeong Woo, during the meeting with the Argentine president, Alberto Fernández, according to an official statement.
A Posco spokesman confirmed to Reuters the expected figure for the investmentpreviously announced by Fernandez.
According to a statement from the Ministry of Mining of the province of Salta, where the project is located, the original plan was modified, which explains the increase in investment from the 830 million dollars initially planned.
The project salt of gold The South Korean miner will start work to build the production plant on Wednesday, according to the statement.
The South American country is part of the so-called “lithium triangleAlong with its neighbors Chile and Bolivia, where the largest amount of the metal is concentrated worldwide. With large portfolio investments, there are few projects in Argentina with lithium production.
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