Eramet Launches Lithium Project in Argentina With China’s Tsingshan
Eramet possesses a huge lithium resource in Argentina, however, its development was halted in April 2020 because of the outbreak of COVID-19.
The deal with Tsingshan calls for the construction of a lithium processing plant beginning in the first quarter of 2022, with expected commissioning in early 2024.
The French business would retain operational management responsibilities and a 50.1% stake in the project, while Tsingshan will finance approximately $375 million of a projected $400 million investment and acquire a 49.9% stake, according to Eramet.
When the production objective is attained, the project is anticipated to create $165 million in yearly earnings before interest, taxes, depreciation, and amortization (EBITDA), according to Bories.
The partners will receive lithium supplies proportional to their project stake, while Eramet is negotiating prospective supply deals with European automakers and battery manufacturers, according to Bories.
She stated that Eramet could add additional processing units in Argentina to make use of the country’s vast lithium reserves, given the company’s expectation that the annual global demand for the metal will increase by a factor of six to more than 2 million tonnes by 2030 due to the adoption of electric vehicles.
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