French, Chinese Firms Restart Argentina Lithium Project

French mining group Eramet said Monday it was reviving a joint project with China's Tsingshan to build a lithium production plant in Argentina to supply the booming electric car industry

Paris, Nov 8 (APP - UrduPoint / Pakistan Point News - 8th Nov, 2021 ) :French mining group Eramet said Monday it was reviving a joint project with China's Tsingshan to build a lithium production plant in Argentina to supply the booming electric car industry.

Construction will begin next year on a deposit in the northwestern province of Salta, with the facility set to open in 2024, said Emaret chief executive Christel Bories.

The plant is expected to meet 15 percent of Europe's lithium needs, Bories told reporters in a conference call.

The metal is a key component for electric car batteries.

Chinese steel group Tsingshan will pay $375 million for the construction of the plant and own a 49.9 percent stake.