EXAR is an Argentine company made up of Ganfeng Lithium, Lithium Argentina and Jujuy Energy and Mining State Society (JEMSE)dedicated to the development and production of lithium carbonate in the Cauchari-Olaroz Salar, where the “Cauchari-Olaroz Plant” is located in Jujuy, at more than 4,000 meters above sea level. This year it put its production plant into operation, after an investment of almost US$1,000 million. The objective is to reach a capacity of 40,000 tons per year of battery-quality lithium carbonate.
At its peak, this process employed more than 3,300 people directly. At the moment, The project has more than 2,100 direct and indirect collaborators, of which more than 60% reside in Jujuy, and 30% do so in surrounding communities. thus becoming a fundamental engine for regional development.
December 10, 2024 was his last day in office after founding the company EXAR and leading the company for more than 15 years. When saying goodbye, the former head of the Argentine Chamber of Mining Companies (CAEM) published a letter of thanks.
“We have witnessed milestones that not only transformed Exar, but also the communities in which we are present. We managed to develop a world-class project, create employment and development opportunities for hundreds of families, and establish solid ties with the communities jujeñas, always prioritizing respect for the environment and people,” he wrote. (See the full letter at the end of the note).
In EXAR They also thanked him for his work for so many years. “He has been the main driver of EXAR’s success, leading development, financing, construction and production start-up. “Its strategic vision and international relationships have been fundamental in positioning the company as a benchmark in the industry.”they maintained when announcing the changes.
Mignacco will continue to be closely linked to the company, serving as director of EXAR, president of the Shareholders Committee and as director of Lithium Argentina.
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Who is the new president of the EXAR mining company?
The new president Simon Perez Alsina is the current president Salta Mining Chamber. Its management is scheduled for the next two years. Days ago he participated in the Puno town of San Antonio de los Cobres of the official launch of First National Program on Comprehensive Care in the Workplace in High Altitude Areas.
“Pérez Alsina is a respected executive in the sector with extensive experience in mining law, and currently serves as Vice President of Litio Minera Argentina SA and Ganfeng Litio Argentina SA His appointment reinforces the commitment of shareholders to the development of EXAR at a key stage of its expansion,” the company stressed in the press release.
Simón Pérez Alsina Minera EXAR.jpg
In addition, he added that with this change the lithium miner “is positioned to continue on its growth path, supported by additional investments from shareholders, which reinforce its commitment to the sustainable development of the organization and its strategic projects in Jujuy.”
Today, EXAR has the installed capacity to become the largest producer of lithium carbonate in Argentina. It currently generates more than 2,100 jobs, between direct and indirect workers.
Strong interest in the market for lithium: EXAR placed ON for US$50 million
Last November the firm aroused a lot of interest in the markets for the placement of its first issue of negotiable obligations (ON) by US$50 million, greatly exceeding its initial goal of US$20 million.
As detailed at that time, he received offers for more than US$76 million. The cutting rate is 8%with payment of semiannual interest and amortization of capital to the 30 and 36 months.
The funds raised will be used to finance, mainly, working capital and to refinance liabilities for the commercial line of business.
“The high level of investor response reflects the market’s confidence in the potential of the lithium carbonate industry, as well as in the financial strength of the company and its medium and long-term business strategy,” expressed last month Pablo TrumperCFO of EXAR.
Franco Mignaco’s farewell letter as president of Exar
To the Exar community, collaborators, partners and friends:
Today comes the time to say goodbye after 12 years as president of this great company, a period that has deeply marked my professional and personal life. This journey has been full of challenges, learnings and, above all, shared achievements that will remain engraved in the history of Exar and in my heart.
From the beginning, I took on this challenge with the firm conviction that we could do something transcendental: build a sustainable and responsible industry that would position Jujuy and Argentina on the world map of lithium carbonate. Today, looking back, I can only feel proud of what we have achieved together.
We have witnessed milestones that not only transformed Exar, but also the communities in which we are present. We managed to develop a world-class project, create employment and development opportunities for hundreds of families, and establish solid ties with the communities of Jujuy, always prioritizing respect for the environment and people.
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However, what I value most about these 12 years is the human bond we have generated. Each of you has been a fundamental piece in this journey. Together we build a culture based on effort, excellence and a sense of belonging. I deeply appreciate the trust, commitment and passion you have shown every step of the way.
My gratitude also extends to our communities and the government of Jujuy, who have been essential allies in this shared dream. The lithium industry is not only an economic opportunity, but a commitment to the future and the transition to a more sustainable world.
I leave with the certainty that Exar will continue to grow, consolidating itself as a leader in the sector and as a benchmark of what can be achieved when there is vision, teamwork and responsibility. Although I am leaving the presidency, now with other functions as Chair of the Shareholders Committee, my connection with this great family and with the lithium project in Argentina will remain intact.
Thank you for allowing me to be part of this incredible story. I wish all of you and Exar a bright future full of new successes.
With deep gratitude and affection, Franco Mignacco.
Source: Ambito
I am Pierce Boyd, a driven and ambitious professional working in the news industry. I have been writing for 24 Hours Worlds for over five years, specializing in sports section coverage. During my tenure at the publication, I have built an impressive portfolio of articles that has earned me a reputation as an experienced journalist and content creator.
