BID finances 700 million dollars for lithium in Argentina

BID Invest will provide financing of up to 700 million dollars to Posco Argentina S.A.U. for the expansion of lithium extraction and production at the Sal de Oro project, located in the Salar del Hombre Muerto, between Salta and Catamarca. This investment is part of a total of 15 billion dollars planned for the lithium industry by 2035. The operation will support production at two Posco Argentina plants, one for hydroxide and another for lithium carbonate, included in the Large Investment Incentive Regime (RIGI). As of July, five lithium projects approved under the RIGI concentrate investments of 5.518 billion dollars. Sal de Oro is expected to produce and export around 48,000 tons annually of lithium products, generating approximately 620 permanent jobs. The financial structure combines an A loan from BID Invest of up to 250 million dollars with the potential mobilization of up to 450 million additional dollars from international financial institutions. It is anticipated that the installed production capacity will exceed 517,000 tons annually of lithium carbonate equivalent in the next decade, which could lead Argentine lithium exports to more than 11 billion dollars annually by 2035.

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