POSCO Secures $700 Million Credit Line for Argentina Lithium Operations
The financing will support working capital for POSCO’s first and second lithium brine plants, with the second plant due in the second half of this year.
- On Friday, South Korean steelmaker POSCO Holdings announced it secured a $700 million credit facility from the Inter-American Development Bank Group to support its lithium operations in Argentina.
- This financing approval followed a July 31 summit in Buenos Aires, where President Lee Jae Myung and Argentine President Javier Milei agreed to expand cooperation on critical mineral supply chains.
- POSCO is expanding its lithium resource base around the Hombre Muerto salt flat, utilizing funds for working capital and completion of its second lithium brine plant in the second half of this year.
- Ganfeng Lithium has locked in control of a three-project megadevelopment in Salta, targeting 150,000 tonnes of lithium carbonate equivalent annually across three phases of 50,000 tonnes.
- The venture's application to Argentina's Large Investment Incentive Regime remains critical, as officials expect a decision on tax and customs terms by the end of 2026.
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12 Articles
Argentina Lithium: China's Ganfeng Locks In a Three-Project Salta Megadevelopment
China's Ganfeng signed definitive deals to consolidate three Salta lithium projects into the PPG joint venture, targeting 150,000 tonnes a year, plus a US$180 million investment in Lithium Argentina. The post Argentina Lithium: China’s Ganfeng Locks In a Three-Project Salta Megadevelopment appeared first on The Rio Times.
The funds will be allocated to the Sal de Oro project, which Posco develops in Salta and Catamarca; when it reaches full capacity, it will produce about 48,000 tons per year and generate 620 permanent jobs
IDB Invest will grant a short-term revolving funding line of up to $700 million to Posco Argentina to support the development and increased production of its Lithium Project Sal de Oro, located in the Salar del Hombre Muerto, between the Argentine provinces of Salta and Catamarca. In a statement, it is reported that the financial structure includes a tranche A of up to $250 million from IDB Invest and a tranche B of up to $450 million from comme…
IDB Invest approved US$700 million funding for the Gold Salt Lithium Project, located in the Salar del Hombre Muerto on the border between Salta and Catamarca. The initiative aims to produce 48,000 tons per year of ore and is part of the Big Investment Incentive Regime (RIGI). The scheme combines two components. On the one hand, an A loan from IDB Invest for up to USD 250 million. On the other hand, the possibility of mobilizing up to USD 450 mi…
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