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26 FEBBRAIO 2019

16:39 - Argentina

LITHIUM: CHINESE COMPANY INVEST USD 180 M AND CREATES 500 JOBS IN ARGENTINA

(ICE) - ROMA, 26 FEB -

Executives of the Chinese company Tibet Summit Resources informed the government of the Province of Salta that they will invest USD 180 million for the extraction of lithium, generating 200 direct jobs and another 300 indirectly. The project foresees a resource of more than 1 million tons of Lithium.

Last year, Tibet Summit Resources acquired the Canadian company Lithium X, who had already invested more than us$ 15 million in the exploration project, drilling, pump tests, geophysical and seismic studies, among other activities.

The government asked the Chinese businessmen that the investment generate concrete benefits in the community and made available the tools of the Province to provide the necessary training. In addition, they requested the hiring of labor from the area.

Argentina is the second world destination for lithium investments, behind Australia. The government hopes that in 2022, the country will become the second producer of lithium in the world, with a projected production of 290,000 tons per year. In 2018, the investment in lithium exploration in Argentina was USD 250 million, although the objective is to reach us$ 400 million at least per year.

(ICE BUENOS AIRES)