French mining company Eramet is planning to increase lithium production capacity in Argentina and double nickel output in Indonesia, reported Reuters.
As part of this plan, the mining company intends to invest €1.9bn ($2.03bn) between 2024 and 2026. This marks an increase in annual investment from €550m projected in 2023.
Eramet chair and CEO Christel Bories was quoted by the news agency as saying: “These investments are being made in areas with very high growth.
“Lithium is not tied to world economic growth, it is tied to the development of batteries and the energy transition.”
In Argentina, Eramet has decided to move ahead with the second tranche of its Centenario lithium project to produce 30,000 tonnes (t) of lithium carbonate equivalent (LCE) a year.
Eramet is developing the Centenario mine with Chinese steel giant Tsingshan.
