POSCO Breaks Ground for Lithium Business in Argentina
Strategic Research Institute
Published on :
28 Mar, 2022, 6:30 am
South Korean steel giant Posco has broken ground on a lithium hydroxide plant in Argentina. The USD 830 million project calls for the establishment of the plant near the Salar del Hombre Muerto salt lake in northern Argentina, with an annual production capacity of 25,000 tonnes of lithium hydroxide The plant is expected to be completed in the first half of 2024, and the capacity is enough to meet demand from 600,000 electric vehicles
The plant will have an annual production capacity of 43,000 tons of lithium hydroxide, which is enough to manufacture about 1 million electric vehicles
Initially, Posco estimated that the site had 2.2 million tons of lithium reserves. But the site was later confirmed to contain 13.5 million tons of lithium reserves, which is enough to make batteries for about 370 million electric cars.