Chinese firm Ganfeng Lithium, one of the world’s leading lithium producers, said on Friday it will invest in a plant for the product used in solar-powered electric vehicle batteries in northern Argentina.
The Asian company will use a 120 megawatt photovoltaic system to generate electricity for a lithium extraction plant in the Salar de Llullaillaco, in the province of Salta, where it is already developing the Mariana lithium brine project.
“Clean energy for clean lithium!” The company wrote in a LinkedIn post.
The Salta government said in a statement a few days ago that Ganfeng will invest nearly $ 600 million in the solar energy project, which it described as the first of its kind in the world, and another facility that will produce lithium carbonate in the nearby park. Industrial Güemes.
The investment deepens Ganfeng’s stake in Argentina’s lithium industry, after the company said last month that it was considering setting up a lithium battery factory in Jujuy province, where it is developing the Cauchari lithium brine project. -Olaroz.
Construction of the Salar de Llullaillaco plant will begin this year, followed by works at the Güemes plant that will produce 20,000 tons of lithium carbonate per year for export, the Salta government said after executives from the Ganfeng Litio Minera Argentina unit meet with Governor Gustavo Sáenz.
Before the announcement, Ganfeng had noted on its website that the Mariana project “can extract lithium through solar evaporation, which is more environmentally friendly and cheaper.”
Ganfeng has his sights set on America. In addition to Argentina, the company has invested in Mexico.
In early May, the company, which owned a percentage of the shares of the Bacanora mine in Sonora, made an offer to take over the entire share capital of the British company, for up to 190 million pounds (264.5 million dollars). ).
Jiangxi-based Ganfeng said in late March that it planned to increase production capacity roughly five times to 600,000 tons of lithium carbonate equivalent (LCE) annually, without providing a time frame.
