French mining company Eramet has acquired Tsingshan Group’s 49.9% stake in its Argentinian subsidiary, Eramine Sudamerica, for $699 million (€645.83 million), regaining full ownership of the company and its strategic lithium project in Argentina.
This acquisition allows Eramet to fully control the development of the Centenario lithium project, one of the largest lithium brine deposits within Argentina’s Lithium Triangle.
The Centenario and Arizaro salars hold more than 15 million tonnes of lithium carbonate equivalent (LCE), with an average lithium concentration of 407mg per litre in the brine, supporting an estimated long-term production capacity of over 75,000 tonnes of LCE.
With this consolidation, Eramet is strategically positioned to drive the project’s development and capitalize on rising lithium demand for the electric vehicle and battery sectors.
