Eramet Plans Expansion of Lithium Operation in Argentina

Eramet, a French mining and metallurgical company, has announced plans to apply for inclusion under Argentina’s Large Investment Incentive Regime (RIGI) for a first expansion of its Centenario-Ratones lithium operation in Salta Province, Argentina. The expansion, which is an initial brownfield project, aims to add 11 kilotonnes of lithium carbonate equivalent (kt-LCE) per year to the existing 24 kt-LCE annual nameplate capacity. This expansion is part of Eramet’s long-term commitment to Argentina, where the company has been developing its lithium activities since 2011.

According to Christel Bories, Chair and CEO of Eramet, the potential additional investment of around US$350 million is subject to a final investment decision. The project has been designed to deliver a lower capital intensity while further strengthening the operation's position within the first quartile of the global lithium industry cost curve. The expansion is expected to be partly funded by cash generated by the existing plant, with detailed engineering studies currently underway.

The Centenario-Ratones plant, which began its ramp-up in mid-2025, has already reached 90% of its nameplate capacity by June 2026, in line with the project’s development plan. The operation is progressing towards a level close to 100% of nameplate capacity by the end of 2026. This successful ramp-up provides a strong foundation for Eramet’s ambition to further develop a leading, sustainable, and competitive lithium platform in Argentina.

Eramet discovered the Centenario-Ratones salar in 2012 and has since invested approximately US$950 million in the development of the first 24 kt-LCE Direct Lithium Extraction (DLE) plant. The salar holds more than 15 million tonnes of lithium carbonate equivalent (Mt-LCE) of drainable mineral resources, providing substantial potential for the long-term development of the asset. By seeking inclusion under the RIGI regime, Eramet intends to align the next phase of Centenario-Ratones with Argentina’s efforts to attract investment, develop its lithium industry, and strengthen its position in global critical-minerals supply chains.

The RIGI framework offers tax, customs, and foreign exchange incentives, together with regulatory stability for 30 years. This scheme is seen as a key factor in enabling companies like Eramet to consider new investment and further development in Argentina.

Beyond this initial expansion, Eramet continues to develop a comprehensive life-of-asset plan to further enhance the potential of the Centenario-Ratones salar. The company is committed to its long-term industrial commitment and its contribution to the development of Argentina’s lithium industry. A final investment decision could be made by the end of 2027.