“I appreciate the interest in investing in Argentina. For us it is very important to be able to develop mining in general and lithium in particular,” said Minister Kulfas, adding: “The mining development policy has two fundamental aspects: on the one hand, it has to be mining that cares for the environment, that it applies the best productive techniques so that it develops in a sustainable manner; On the other hand, we want mining that generates development in the region where it is located, that generates employment in the communities, in the provinces, that invests in works and that uses local suppliers to strengthen the local productive framework. We invite you to work together on these aspects, which we consider essential for the development and growth of Argentina”.
The Secretary of Mining, Fernanda Ávila; CEO of Continental Gold Inc, Zijin Mining Group, James Chun Wang; the General Manager, Huang Huaiguo; the CFO, Zheng Jiao; engineer Hou Tong; the President of Liex, Tomás de Pablos Souza; and the CEO of Neolithium, Waldo Pérez.
Zijin acquired the share capital of Neo Lithium Corp in Canada and, upon controlling the company, decided to invest US$380 million through its subsidiary in Argentina, Liex, in the construction of a lithium carbonate plant in the Tres Quebradas project. (3Q), which will produce 20,000 tons of lithium carbonate per year with the idea of doubling its production in the medium term.
During the meeting, Fernanda Ávila explained that “Tres Quebradas is very important not only for Catamarca but also for Argentina and it shows confidence in our country. We firmly believe in working to fulfill our President’s mandate to develop mining in a sustainable way.”
For the Tres Quebradas project, the plant is expected to begin construction this year and go into production at the end of 2023. This is a brine extraction and lithium carbonate production project located in Fiambalá, Catamarca province, 30 kilometers from the border with Chile, within the Lithium Triangle, where almost 60% of the world’s reserves of this mineral are found. In the exploratory phase, Liex had already produced maximum purity battery-grade lithium carbonate at its pilot plant.
Likewise, China’s leading gold producer Zijin has plans to make other important investments in gold and copper in Argentina, which is why it is looking for advanced projects to do so.
Zijin Mining Group Co. Ltd. is a Chinese conglomerate engaged in the exploration, exploitation and development of mining properties and projects around the world, mainly gold, copper, lead, zinc, tungsten, iron and other base metals.
Source: Ambito
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