Eramet announces that it will restart the construction of its lithium plant in Argentina, leveraging on a strong growth momentum for the demand for this critical metal to the energy transition, which is core in the Group strategic development.
The construction of the plant, with an annual production of 24,000 tonnes of lithium (LCE1), will start during the first quarter of 2022 with a commissioning scheduled for early 2024.
Eramet will control the project, with a 50.1% interest, and will retain operational management responsibility; its partner Tsingshan will finance the plant construction in exchange of a 49.9% interest in the project.
Christel Bories, Eramet group Chair and CEO, commented :
« 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.
Eramet will thus 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, our partner 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. We are now ready to engage the site’s development in the best conditions with initial production expected from 2024. »