Chinese company buys lithium mines belonging to Argentine mining group for US$ 962 million

Photo: Lithium Mining in Argentina. By: Coordenação-Geral de Observação da Terra/INPE. Source: Flickr

Ganfeng Lithium Co. Ltd is a Chinese company that offers a wide range of Lithium products, and specializes in battery production. The company was established in China in 2000 and is characterized by the use of advanced technology that helps them to optimize their production processes. This allows them to offer other types of services, including lithium refining and the manufacture of pharmaceuticals. Considering the importance of lithium for the technological and economic development of countries in the 21st century, and the fact that the main lithium reserves in the world are located in Chile, Brazil and Argentina, the region is of great interest to Ganfeng Lithium Co. Ltd.  

The company recently acquired the Argentinean mining group Lithea for USD $962 million, providing it with the rights to two salt lake brines in Argentina, Pozuelos and Paston Grandes. This is part of the company’s intention to venture into metal mining which resulted in another similar transaction by the company in Mali. The agreement with Lithea also provides the possibility of acquiring another joint venture, with operations in northwestern Argentina, in order to reach a production of 50,000 tons of the metal per year. The total lithium market was estimated at 500,000 tons for 2021. 

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El Mostrador: Empresa china compra minas de litio perteneciente a un grupo minero argentino por US$ 962 millones.

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Reuters: Ganfeng Lithium Co Ltd.

Sandra Colombo y Agustín Barberón – Universidad Nacional de La Plata: Litio, un recurso natural estratégico en la geopolítica internacional y suramericana.