Remove Argentina Remove Battery Remove Financing Remove Market
article thumbnail

POSCO Holdings begins construction of $830M lithium plant in Argentina

Green Car Congress

Korea-based POSCO Holdings recently started construction of a lithium commercialization plant in Argentina. POSCO Group is the first to produce lithium hydroxide for batteries in Argentina throughout the entire process from the acquisition of mining rights to exploration, construction and operation of a production plant.

Argentina 333
article thumbnail

Chinese steel group Tsingshan investing $375M to build lithium plant in Argentina with Eramet

Green Car Congress

China’s Tsingshan , the world’s largest producer of stainless steel, will invest $375 million to build a lithium plant in Argentina with French multinational mining and metallurgy company Eramet. interest, and will retain operational management responsibility; its partner Tsingshan is financing the plant construction in exchange for 49.9%

Argentina 335
article thumbnail

POSCO begins construction of S Korea’s first lithium hydroxide plant

Green Car Congress

Korea) of the country’s first lithium hydroxide plant, which will produce secondary battery materials using lithium produced from brine in Argentina. POSCO Pilbara Lithium Solution, a wholly-owned subsidiary of POSCO Holdings, will be responsible for the financing, construction, and operation of the plant. Earlier post.)

Argentina 369
article thumbnail

President of Mexico nationalizes lithium

Green Car Congress

A number of foreign companies are interested in developing lithium deposits in Mexico; in September 2022, the finance ministry valued the lithium deposit in Sonora state as worth as much as 12 trillion Mexican pesos (US$653 billion, currently). World leaders Bolivia, Argentina and Chile hold 21Mt, 19Mt and 9.8Mt.

Mexico 543
article thumbnail

Neo Lithium closes strategic investment with CATL; ~8% stake; 3Q project

Green Car Congress

It further strengthens our long-term commitment and focus on our Project as we work together with CATL to bring 3Q into full development by building a comprehensive financing plan. In 2019, the company’s EV battery sales volume reached 40.25 GWh worldwide, making it the world leader in annual EV battery consumption volume.

Argentina 418
article thumbnail

Mexico forms state-run company to mine lithium: Litio para Mexico

Green Car Congress

The Board of Directors for LitioMx comprises the head of the Ministry of Energy, who will preside over it; the head of the Ministry of Finance and Public Credit; the head of the Ministry of Economy; the head of the Ministry of the Interior; and the head of the Ministry of Environment and Natural Resources. According to the USGS, Mexico has 1.7

Mexico 284
article thumbnail

Toyota Tsusho to acquire 15% stake in lithium miner Orocobre for US$232 million

Green Car Congress

Lithium demand is expected to continue growing with the shift from fossil-fuel powered vehicles to electric vehicles (EV), in addition to the steady growth of lithium-ion batteries for electric devices. Demand growth to date has seen the lithium price more than doubled in the past few years.

Toyota 207