Brazil’s Chief of Cabinet Juan Manzur received last week the president of the South Korean steel company Posco Argentina Mr KwangBok Kim, and the director of the company SungKook Chung, who announced an investment in its plant in Argentina for USD 830 million dollars. Mr KwangBok Kim informed "We decided to execute our project by starting the construction of our commercial plant in March of this year with a direct investment of close to 830 million dollars.”The plant, near the Salar del Hombre Muerto salt lake in northern Argentina, will have an annual production capacity of 25,000 tonnes of lithium hydroxide, sufficient to supply batteries for 600,000 electric vehicles. The plant will be constructed by the first half of 2024.POSCO bought lithium mining rights in Argentina from Australian lithium miner Galaxy Resources for $280 million in 2018. Initially, POSCO estimated that the site had 2.2 million tons of lithium reserves. The site was later confirmed to contain 13.5 million tons of lithium reserves—enough to make batteries for about 370 million electric carsPOSCO developed an extraction technology for lithium in 2010. A period of investigation and feasibility studies for production followed. A pilot plant was manufactured in South Korea in 2017 with a capacity of 2,500 tons per year of lithium.
Brazil’s Chief of Cabinet Juan Manzur received last week the president of the South Korean steel company Posco Argentina Mr KwangBok Kim, and the director of the company SungKook Chung, who announced an investment in its plant in Argentina for USD 830 million dollars. Mr KwangBok Kim informed "We decided to execute our project by starting the construction of our commercial plant in March of this year with a direct investment of close to 830 million dollars.”The plant, near the Salar del Hombre Muerto salt lake in northern Argentina, will have an annual production capacity of 25,000 tonnes of lithium hydroxide, sufficient to supply batteries for 600,000 electric vehicles. The plant will be constructed by the first half of 2024.POSCO bought lithium mining rights in Argentina from Australian lithium miner Galaxy Resources for $280 million in 2018. Initially, POSCO estimated that the site had 2.2 million tons of lithium reserves. The site was later confirmed to contain 13.5 million tons of lithium reserves—enough to make batteries for about 370 million electric carsPOSCO developed an extraction technology for lithium in 2010. A period of investigation and feasibility studies for production followed. A pilot plant was manufactured in South Korea in 2017 with a capacity of 2,500 tons per year of lithium.
