Eramet targets US$350 million lithium expansion in Salta, seeks RIGI inclusion

Eramet confirmed on 1 October 2026 that it intends to submit an application to expand the Centenario-Ratones facility, which currently holds a nameplate capacity of 24,000 tonnes per annum of lithium carbonate equivalent. The proposed brownfield expansion would add 11,000 tonnes of annual capacity, leveraging existing infrastructure to reduce capital intensity per unit of new production. The investment remains subject to board approval, with detailed engineering studies now underway. Part of the funding would come from cash generated by the operating plant.

The announcement followed a meeting in Paris between Bories and Milei, with further discussions involving Presidential Chief-of-Staff Karina Milei and Economy Minister Luis Caputo. Eramet stated it will seek inclusion under Argentina’s Régimen de Incentivo para Grandes Inversiones, which provides tax, customs and foreign exchange benefits plus 30 years of regulatory stability for projects exceeding US$200 million. The RIGI framework has become a central pillar of Milei’s strategy to attract foreign capital ahead of the 2027 election.

Centenario-Ratones reached 90 percent of nameplate capacity in June 2026, approximately one year after beginning its production ramp-up. The facility is expected to approach full capacity by the end of this year. During 2025, the plant produced 6,690 tonnes of lithium carbonate equivalent while operating below full capacity. Eramet characterizes the facility as the first full-scale direct lithium extraction plant operating outside China, positioning the technology as a higher-efficiency alternative to traditional evaporation-based processing.

The company has invested roughly US$950 million in the initial 24,000-tonne plant since acquiring the project site in 2012. Eramet bought out its former partner, China’s Tsingshan Holding Group, in 2024 to gain full ownership. The proposed expansion represents a smaller scope than a 30,000-tonne second plant conditionally approved by Eramet’s board in November 2023, which was contingent on securing favorable fiscal terms. The salar holds more than 15 million tonnes of drainable lithium carbonate equivalent mineral resources, providing potential for additional phases beyond the current expansion proposal.

Argentina Week in Paris generated approximately US$10.5 billion in new or expanded project commitments across energy and mining sectors, according to tallies by Argentine media. The largest announcement involved YPF’s Argentina LNG export project, valued at US$51 billion, with a final investment decision scheduled for 26 November 2026.