French mining company Eramet plans to increase lithium capacity in Argentina and double nickel production in Indonesia. As part of the plan, the mining company plans to invest 1.9 billion euros ($2.03 billion) between 2024 and 2026. This marks an increase in annual investment from the 550 million euros projected for 2023.
"These investments are being made in areas that are growing very fast. In the words of Christel Bories, Chairman and CEO of Eramet, "Lithium has nothing to do with world economic growth, it has to do with battery development and energy transition."
In Argentina, Eramet has decided to move forward with the second phase of the Centenario Lithium project to produce 30,000 tonnes of lithium carbonate equivalent (LCE) per year.
Eramet is jointly developing the Centenario mine with Chinese steel giant Qingshan Group. The first phase of the Centenario project has a capacity of 24,000 tonnes and is expected to start production in the second quarter of 2024.
Eramet also plans to assess the feasibility of the third phase of the Centenario mine.
In Indonesia, Eramet plans to increase production from the Weda Bay nickel mine from an estimated 30 million wet tons this year to 60 million wet tons by 2026.
The French company also plans to increase manganese production at its Gabon mines from an expected 7 million tonnes in 2023 to 8.5 million tonnes in 2026.
In Chile, Eramet acquired a 120,000-hectare lithium concession in the Atacama region for $95 million.
