article thumbnail

Rio Tinto to invest USD 350 million in Argentina lithium project – ET Auto

Baua Electric

The company purchased the Rincon project from Rincon Mining in 2022 for USD 825 mn, and plans to develop a battery-grade lithium carbonate plant with an annual capacity of 3,000 tons. Rio Tinto said it is working with local communities and authorities to ensure environmental standards.

article thumbnail

Ganfeng Lithium plans to buy stake in Proyecto Pastos Grandes – ET Auto

Baua Electric

Established in 2016, PGCO owns two lithium projects in Argentina – the Pastos Grandes lithium project and Cauchari East lithium project, according to Ganfeng. in a subsidiary of Lithium Americas Argentina Corp, as China’s leading lithium producer ramps up its efforts to secure resources.

Buy 52
article thumbnail

India enters Argentina’s lithium market with INR 200 cr investment, eyes on rich lithium reserves – ET Auto

Baua Electric

Argentina is part of the “Lithium Triangle” along with Chile and Bolivia with more than half of the world’s total lithium resources and having the distinction of having 2nd largest lithium resources. The signing took place in Catamarca, Argentina, in the presence of Catamarca’s Governor Lic. Raul Jalil, Vice Governor Eng.

India 52
article thumbnail

India to send teams to Chile seeking lithium and copper assets, source says – ET Auto

Baua Electric

As part of India’s drive to explore overseas for mineral assets, state firms National Aluminium Company, Hindustan Copper and unlisted Mineral Exploration and Consultancy have set up a company called Khanij Bidesh India (KABIL). million) lithium exploration pact for five blocks in Argentina. USD 1 = 83.30

Chile 52
article thumbnail

Rio Tinto CEO bullish on lithium but not eyeing big acquisitions – ET Auto

Baua Electric

The company also owns the Jadar lithium project in Serbia, which is currently under dispute after Serbia in 2022 revoked the license for the project over environmental issues. PDAC, which runs Sunday to Wednesday, is one of the world’s largest gatherings of mining companies and their financiers.

Serbia 52
article thumbnail

India faces uphill battle in Lithium mining and exploration – ET Auto

Baua Electric

India is striving to establish reliable lithium supply to bolster its growing electric vehicle (EV) industry with its recent INR 200 crore investment in lithium exploration in Argentina by the Ministry of Mines. Argentina has brine deposits, for which the extraction and processing technology is well proven.

India 52
article thumbnail

Chile needs to finalize more lithium plan details to spur investment, miners say – ET Auto

Baua Electric

Companies must also grapple with a soft patch for lithium prices amid a slowdown in EV sales, which has changed the calculus for ensuring economically viable projects. Nearly 100 companies from a dozen countries have already approached the government to seek information about launching lithium projects, Williams said, including from the U.S.

Chile 52