Ganfeng Lithium has started lithium production at its Mariana project in Salta, Argentina, backed by a $790 million investment. The facility aims to produce 20,000 metric tons of lithium chloride annually and includes a $190 million solar park. Other projects in development include Pozuelos-Pastos Grandes and Incahuasi–Arizaro. The Argentine government supports these ventures to attract foreign investment and economic growth.
China’s Ganfeng Lithium mining company has commenced lithium production at its Mariana project in Argentina’s northern province of Salta. This project, which represents a significant $790 million investment, is expected to generate 20,000 metric tons of lithium chloride annually through extraction processes in the Llullaillaco salt flat. In addition, Ganfeng invested $190 million in a solar park to ensure the project’s sustainable energy requirements.
President of Ganfeng Lithium Group, Wang Xiaoshen, confirmed that several other lithium initiatives in Argentina are progressing. The Pozuelos-Pastos Grandes project is set to start construction this year, while the Incahuasi–Arizaro project is currently in the advanced exploration phase. Ganfeng also co-owns the operational Cauchari-Olaroz project and has the Pastos Grandes project in feasibility.
Argentina’s government under President Javier Milei has embraced mining initiatives, viewing them as a strategy to attract foreign investment. The government has implemented an incentives scheme that has received praise from international lithium and copper mining sectors. Along with Chile and Bolivia, Argentina forms part of the lithium triangle, home to extensive lithium reserves.
Numerous lithium projects by other firms are also underway in Argentina, although some have faced delays due to declining lithium prices driven by market oversupply and decreased electric vehicle sales. Mining Secretary Luis Lucero expressed optimism about the Mariana project’s potential to enhance local economies and job opportunities.
Luis Lucero remarked, “The Mariana project not only represents an important source of foreign currency earnings, but also the creation of genuine, quality employment for hundreds of families.”
Ganfeng Lithium’s Mariana project marks a vital step in Argentina’s lithium production, supported by substantial investment and energy initiatives. As part of a broader strategy to enhance foreign investments in mining, this project contributes to job creation and economic stability. With additional projects in the pipeline, Argentina aims to leverage its lithium-rich resources while navigating market challenges.
Original Source: money.usnews.com
