Accompanied by the Secretary of International Economic Relations, Cecilia Todesca Bocco, Cafiero met with the delegation made up of its representative director and president, Tak Jeong; the president of Posco Argentina, Kim Kwangbok; and his vice president, Chung Sung Kook.
The directors confirmed that Posco plans generate around 1,900 jobsbetween direct and indirect.
Sal de Oro lithium project
In 2026, the company expects to reach a production capacity of 100,000 tons of lithium products per yearincreasing the total investment by around US$4,000 million.
“Today we talked with Posco about the next stages in its investment in lithium and the opportunities to develop new value-added chains that include Argentina” Cafiero assured.
The foreign minister added that “the lithium industry has enormous potential for Argentina and, especially, for the provinces that produce the mineral (Catamarca, Jujuy and Salta).
“Especially if we consider that Argentina is the country with the largest amount of resources with potential economic value within the so-called “Lithium Triangle”, which also includes the salt flats of Chile and Bolivia,” he added.
The investment, the first mega investment in the country of a South Korean company, covers the comprehensive lithium development project Sal de Orolocated in the Salar del Hombre Muerto, the limit between the provinces of Salta and Catamarca, which is in full expansion stage.
Last March, with an approximate investment of US$ 830 million, construction began on the first commercial stage that will make it the first company to produce lithium hydroxide in Argentine territory.
Argentina is the fourth producer of lithium in the world, behind Australia, Chile and China; and the provinces of Catamarca, Jujuy and Salta, which make up the “Lithium Region”, constitute the second world reserve of this mineral.
In the first half of the year, the Argentine lithium exports increased 171% compared to the first half of 2021.
On the other hand, Tak Jeong indicated that he is part of the Business Promotion Committee of the Busan 2030 bid.
The exhibition is a global mega-event organized under the auspices of the International Exhibitions Bureau (BIE) in which countries, multilateral organizations, academic institutions and companies participate in which they aspire, if elected, for Argentina to participate.
Posco is a company born in 1968 in the city of Pohang, South Korea, and is currently among the five largest companies in that country and among the four largest steel companies in the world.
Source: Ambito
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