Eramet has abandoned plans for an Argentine lithium mine due to uncertainty caused by the COVID-19 health crisis.
Christel Bories, Chairman and CEO of the Group said, “In the current context of the Coronavirus pandemic, and given the many uncertainties which are currently weighing on the global economy and our markets, we have made the decision not to initiate the construction of our lithium production plant in Argentina. Since the discovery of this world class deposit until the success of the pilot plant, our teams in Argentina and France, actively supported by local authorities and communities, have done a remarkable job, and the project was perfectly in line with expectations. This deposit, which is one of the best in terms of competitiveness in the lithium industry with the process developed by Eramet teams, remains an asset with high potential from our portfolio. “
This is an expensive decision for the company but not entirely unexpected after the project was suspended on 19 Feb 2020, when the company published its annual reports.
You can read the press release here.