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March 22, 2022

Posco unveils $4bn investment plan for lithium project in Argentina

The project is expected to have initial annual production of 25,000t of lithium hydroxide.

South Korean steel-making company Posco is planning to invest $4bn in a new lithium mining project in Argentina, reported Reuters.

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The investment forms part of the firm’s plan to capitalise on surging demand for lithium, which is the key metal for rechargeable batteries.

Posco will invest in a project at a salt flat, known as Salar de Hombre Muerto, located at the border between the northern Salta and Catamarca provinces.

According to Salta’s mining department, the company initially planned to invest $830m in the venture. However, the modifications in the original project resulted in the increased investment amount.

The project is expected to have an initial annual production of 25,000t of lithium hydroxide and increase to 100,000t following the completion of the venture.

Over the next three decades, the project’s export value is expected to be $260m a year, reported the news agency citing a statement from Argentina President Alberto Fernandez’s office.

Last month, Chinese mining firm Zijin Mining Group said it is looking to invest $380m to construct a lithium carbonate plant in Argentina.

To be built in the Neo Lithium-owned Tres Quebradas project in the northern province of Catamarca, the new plant will have a 20,000tpa production capacity of lithium carbonate.

Argentina, together with neighbours Bolivia and Chile, share the so-called ‘lithium triangle’, which is claimed to host one of the world’s largest lithium reserves.

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How attractive are current investment opportunities in Europe?

Europe has been identified as one of the most favorable regions for investors, seeing high investment activity in the past year. Most of these investments have been through Debt Offering, valued at close to $700 billion. The region has provided attractive investments in a diverse set of companies. Companies who tend to major themes such Digital Media, Cloud, Artificial Intelligence, E-commerce, and Big Data are recording the highest number of deals, with Digital Media recording close to 2,000 deals. However, GlobalData’s whitepaper offers a full view of the market, analyzing less successful or attractive points of investment as well, examining statistics on Equity Offering investments and PE/VC deals. Understand how government agencies for economies around the world use GlobalData Explorer to:  
  • Track the M&A and Capital Raising volumes into their target market
  • Identify the top sectors in the target market attracting the investments
  • For any investment segment, identify the top Investors inside and outside the target economy that are already investing in the Segment
  • Assess and showcase the growth potential for various Industries in the target economy
Don’t miss out on key market insights that can help optimize your next investment – read the report now.
by GlobalData
Enter your details here to receive your free Report.

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