Latest news with #Ganfeng
Yahoo
22-05-2025
- Business
- Yahoo
Argentina green-lights Rio Tinto's $2.5bn lithium project under RIGI incentive scheme
Argentina's Government has officially approved Rio Tinto's $2.5bn (2.86trn pesos) Rincon lithium mining project, the first mining project under the newly established RIGI investment incentive regime, reported Reuters. The Rincon project is situated in Salar Del Rincón, Salta province, Argentina. The approval announcement was made by Daniel Gonzalez, the country's Mining and Energy Coordination Secretary, at a conference in Buenos Aires. The mining sector in Argentina had been voicing concerns regarding the prolonged approval process for seven projects that were submitted since the RIGI programme's launch nine months ago. The RIGI framework aims to offer tax and customs advantages, access to international arbitration for disputes and long-term stability plans. Other companies that have applied for the RIGI programme include China's Ganfeng, Canada's McEwen Copper and South Korea's Posco. Of these, five are lithium projects, with the remaining two focused on gold and copper. Despite regulations stipulating a decision within a maximum of 45 working days, only Rio Tinto's project has been approved to date. Industry insiders suggest that the government did not intend to delay the process but was navigating complex approval procedures across various state departments. Some companies may have also submitted premature applications that did not meet the necessary criteria. Argentina CAEM mining chamber head Roberto Cacciola said: "We are grateful because there was strong anxiety over what was happening with the mining RIGIs. This was major news." The libertarian government led by President Javier Milei is aiming to bolster Argentina's mining industry to attract foreign currency and maintain economic stability amidst high inflation rates. As the fourth-largest lithium supplier globally, Argentina, alongside Chile and Bolivia, is part of the 'lithium triangle', which has the largest reserves of the metal essential for electronics and electric vehicles. Argentina is not only a significant exporter of gold and silver but is also anticipating the development of substantial copper projects. However, as of now, none of the copper projects are in production. Last year, Argentina's mineral exports amounted to $4.8bn, with gold leading the way, followed by silver and lithium. In February 2025, Worley was selected as the lead integration delivery partner for the Rincon lithium project. "Argentina green-lights Rio Tinto's $2.5bn lithium project under RIGI incentive scheme" was originally created and published by Mining Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Yahoo
12-02-2025
- Business
- Yahoo
China's Ganfeng starts lithium production at Argentina's Mariana project
BUENOS AIRES (Reuters) - China's Ganfeng Lithium mining company has begun producing lithium at its Mariana project in northern Argentina, it said on Wednesday, kicking off one of several of its new lithium projects under way in the South American country. Ganfeng is one of the world's biggest producers of the white metal that is mainly used to make rechargeable batteries. The Mariana plant, in the province of Salta, represents a $790 million investment and has the capacity to produce 20,000 metric tons of lithium chloride per year from extraction at the Llullaillaco salt flat. See for yourself — The Yodel is the go-to source for daily news, entertainment and feel-good stories. By signing up, you agree to our Terms and Privacy Policy. Ganfeng also spent $190 million to build a solar park to support the plant's energy needs. Wang Xiaoshen, president of Ganfeng Lithium Group, said the company's other Argentina lithium projects are advancing. Pozuelos-Pastos Grandes is scheduled to start construction this year, while the Incahuasi–Arizaro project is in the advanced exploration phase, he said in a statement. Ganfeng is also a co-owner with Lithium Argentina of the Cauchari-Olaroz project, which is already in operation, and the Pastos Grandes project, in the feasibility stage. President Javier Milei's administration has welcomed mining projects as a way to pump foreign investment into the country, and has offered an incentives scheme praised by international copper and lithium miners. Argentina, along with Chile and Bolivia, comprise Latin America's so-called lithium triangle containing one of the world's biggest reserves of the ultra-light metal. A string of lithium projects is in development in Argentina by other companies as well, although some have been delayed due to low lithium prices caused by oversupply and a slowdown in sales of electric vehicles. Speaking at the project's inauguration, Mining Secretary Luis Lucero expressed hope that the Mariana plant can help strengthen local economies. "The Mariana project not only represents an important source of foreign currency earnings, but also the creation of genuine, quality employment for hundreds of families," he said.
Reuters
12-02-2025
- Business
- Reuters
China's Ganfeng starts lithium production at Argentina's Mariana project
Summary Companies Ganfeng Lithium starts production at Mariana project in Argentina $790 million investment for 20,000 metric tons of lithium chloride annually Argentina's incentives expected to attract further investment in lithium, copper BUENOS AIRES, Feb 12 (Reuters) - China's Ganfeng Lithium ( opens new tab mining company has begun producing lithium at its Mariana project in northern Argentina, it said on Wednesday, kicking off one of several of its new lithium projects under way in the South American country. Ganfeng is one of the world's biggest producers of the white metal that is mainly used to make rechargeable batteries. The Mariana plant, in the province of Salta, represents a $790 million investment and has the capacity to produce 20,000 metric tons of lithium chloride per year from extraction at the Llullaillaco salt flat. Ganfeng also spent $190 million to build a solar park to support the plant's energy needs. Wang Xiaoshen, president of Ganfeng Lithium Group, said the company's other Argentina lithium projects are advancing. Pozuelos-Pastos Grandes is scheduled to start construction this year, while the Incahuasi–Arizaro project is in the advanced exploration phase, he said in a statement. Ganfeng is also a co-owner with Lithium Argentina of the Cauchari-Olaroz project, which is already in operation, and the Pastos Grandes project, in the feasibility stage. President Javier Milei's administration has welcomed mining projects as a way to pump foreign investment into the country, and has offered an incentives scheme praised by international copper and lithium miners. Argentina, along with Chile and Bolivia, comprise Latin America's so-called lithium triangle containing one of the world's biggest reserves of the ultra-light metal. A string of lithium projects is in development in Argentina by other companies as well, although some have been delayed due to low lithium prices caused by oversupply and a slowdown in sales of electric vehicles. Speaking at the project's inauguration, Mining Secretary Luis Lucero expressed hope that the Mariana plant can help strengthen local economies. "The Mariana project not only represents an important source of foreign currency earnings, but also the creation of genuine, quality employment for hundreds of families," he said.
Zawya
31-01-2025
- Business
- Zawya
African Mining Week (AMW) to Showcase Africa's Rising Investment Potential in the Mining Sector
International investments in Africa's mining sector are surging as global demand for both traditional and emerging minerals continues to grow. For example, Australian mining firms saw their asset value in Africa reach $60 billion in 2024, while Canadian firms' assets climbed to $37 billion. China also launched an ambitious $50 billion, three-year investment strategy targeting increased stakes in Africa's most lucrative opportunities including in the mining sector. The upcoming African Mining Week Summit, scheduled for October 1 - 3 in Cape Town, will highlight profitable opportunities within Africa's mining industry and reinforce the continent's attractiveness as an investment destination for global mining financiers. Untapped Mineral Deposits Africa's vast, untapped mineral resources present potential for new investments. The continent holds 30% of the world's critical minerals ( essential for the energy transition, including the largest global reserves of cobalt (in the Democratic Republic of Congo) and over 80% of the world's platinum group metals in South Africa. The continent accounts for more than 44% of global diamond production, while its share of the gold market continues to grow, with markets such as Ghana, Mali and Zimbabwe ramping up production. Supportive Policies and Investor-Friendly Terms African governments are enhancing the investment climate within the mining industry by enacting new policies and modernizing fiscal terms to streamline processes and reduce delays in project rollouts. Zambia, for instance, introduced a New Mining Tax Regime in 2023, improving transparency and reducing tax evasion, as the country targets a copper production target of three million tons by 2032. Mali has also experienced increased investment flows following its 2023 Mining Code, with global players such as HummingGold, B2Gold and Ganfeng committing to new lithium and gold projects. Malawi has also taken steps to attract investments by launching its Mining Regulatory Authority in October 2024, supported by the Mines and Minerals Act of 2023. Improved Mining and Export Infrastructure African nations are enhancing cooperation with global partners to improve mining production and mineral transportation infrastructure. For example, investment firm Africa Finance Corporation has announced that the Zambia-Lobito Railway project will commence ( construction in early 2026, to facilitate the efficient and cost-effective transportation of critical minerals from East and Southern Africa to global markets. Upgrades to the Tanzania-Zambia Railway ( and South Africa's modernization of ports through freight operator, Transnet, are further enhancing the region's mining investment prospects. Rich Mining History Africa's established history as a global mining hub has fostered the development of key infrastructure and a skilled workforce that international mining firms rely on to meet global mineral demand. Mining remains a cornerstone of many African economies, attracting both traditional and emerging players keen to expand their operations and leverage the continent's resources. With its rich deposits and ongoing improvements in policy and infrastructure, Africa maintains its position as a key investment destination for the global mining industry. African Mining Week will serve as a premier platform for exploring the full spectrum of mining opportunities across Africa. The event is held alongside the African Energy Week: Invest in African Energy 2025 conference ( from October 1 -3. in Cape Town. Sponsors, exhibitors and delegates can learn more by contacting sales@ Distributed by APO Group on behalf of Energy Capital&Power.
