Sergio Massa reviewed millionaire investments in mining and lithium projects in China

Sergio Massa reviewed millionaire investments in mining and lithium projects in China

Within the framework of his visit to the city of Shanghai, the Minister of Economy, Sergio Massaheld meetings with representatives of Chinese mining companies in which they worked on lithium investment and production projects in Argentina.

On the second day of his official visit, the minister met with company authorities Tibet Summit Resourcesin which they discussed the Salar Arizaro and Salar de Diablillos Projectswhich provide for the construction of a lithium processing plant in the province of Salta.


Massa met with mining companies that announced investments in lithium.

According to Economy sources, the projects Salar Arizaro and Salar de Diablillos They estimate an investment of 1,700 million dollars to produce between 50,000 and 100,000 tons between both projects. In addition, they will generate up to 10,000 direct and indirect jobs, and are committed to respecting the communities and the development of suppliers and the national industry.

“We want a mining that generates use of the resource with the generation of added value and employment. That enables the generation and use of human capital and the technological and entrepreneurial capital of Argentina”expressed the head of the Palacio de Hacienda during the meeting, adding: “we want to get out of the idea that we are a primary exporting country to be an exporting country with added value from our own primary products.”

In turn, Massa stressed the importance of the participation of local suppliers and companies in the development of the projects, arguing that “we need them to expand their investments in Argentina under the conditions that Argentina has set for itself: development of local suppliers; development of the relationship with local communities; compliance with environmental regulations and development of added value”.

Massa was accompanied by the Deputy Chief of Staff, Juan Manuel Olmos; the Minister of Transportation, Diego Giuliano; the Argentine ambassador to China, Sabino Vaca Narvaja; the president of the Central Bank of the Argentine Republic, Miguel Ángel Pesce; the Secretary of Energy, Flavia Royón; his partner for International Economic and Financial Affairs, Marco Lavagna; and the President of ENARSA, Agustín Geréz. On behalf of the Tibet Summit Resources company, President Huang Jianrong; Vice President and CEO Zhang Jieyuan; the assistant to the president & President of Potasio y Litio de Argentina SA (PLASA), Mao Yuankai; Deputy Managing Director & Secretary of the Board of Directors, Hu Handong; the general director of investments, Hong Yuwei; and the foreign affairs assistant, Zhang Yanran.


Then, the head of the Palacio de Hacienda held a working meeting with company authorities Gangfeng Lithium, the first producer of lithium and derivatives, which currently has four projects in Argentina. The company foresees an investment of 2,700 million dollars and expects a production of 74,000 tons of lithium carbonate.

During the meeting, work was done on the Mariana Project, which aims to promote the extraction of lithium in the Salar de Llullaiaco, also located in Salta, and addressed the project-Olaroz, which begins to operate and export in the third quarter of 2023 hand in hand with the EXAR mining.

Within this framework, Massa expressed Argentina’s intention to advance in a strategic sector with environmental and social sustainability, also promoting the development of local suppliers and the generation of Argentine labor. In this meeting, the undersecretary of Financial Relations for Development, Leandro Gorgal.

Later, the head of the Palacio de Hacienda met with company authorities Tsingshan Holding Groupwith whom the progress of the lithium extraction project was analyzed, Salar Centenario-Ratoneswhich has an estimated investment of 770 million dollars.

In addition, the project for a processing plant for chlorine alkaliin Jujuy, which will function as a fundamental chemical industrial base with the potential to cover the “Lithium Triangle” between Argentina, Chile and Bolivia.

The project foresees an investment of 120 million dollars and the creation of quality employment; development of local suppliers; development of productive chains and attraction of other industrial projects to the region.

The last working meeting of the second day of Sergio Massa in Shanghai it was in Tsingshan Holding Group. There, progress was made in the financing of two lithium projects that are being developed together with the French mining company Eramet for 800 million dollars in the procinabolanta plant of Solvay soda and chlorine in Jujuy.

Source: Ambito

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