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Argentina","eramet-buys-out-tsingshan-for-full-control-of-its-lithium-assets-in-argentina","article/eramet-buys-out-tsingshan-for-full-control-of-its-lithium-assets-in-argentina",{"_uid":547,"date":548,"tags":549,"editor":559,"content":569,"excerpt":756,"featured":51,"reporter":757,"_editable":761,"component":762,"seo_title":543,"categories":763,"visibility":769,"author_company":49,"featured_image":770,"seo_description":756,"author_full_name":49,"author_job_title":49,"formattedDate":775,"formattedArticleDate":776},"28eab329-2171-47d7-b31e-08415c0215a7","2024-10-25 00:00",[550,553,556],{"slug":551,"name":552},"argentina","Argentina",{"slug":554,"name":555},"eramet","Eramet",{"slug":557,"name":558},"tsingshan","Tsingshan",[560],{"slug":561,"name":562,"content":563},"didi-bostock","Didi Bostock",{"job_title":564,"image":565,"bio":567,"linkedin":568},"Editor - Energy Transition & Economics",{"filename":566},"https://a.storyblok.com/f/287943243085208/512x512/2c5ca5c1a3/didi-bostock.jpeg","Didi is the Energy Transition & Economics Editor at Benchmark, covering a broad range of markets across the energy transition. His remit spans from downstream sectors such as BESS and EVs, through to midstream such as new technologies and battery production, to upstream critical minerals mining. He also leads on financial analysis across these supply chains, alongside in-depth policy analysis.\n","https://www.linkedin.com/in/didi-bostock-656342198/",{"type":570,"content":571},"doc",[572,589,594,622,634,643,650,655,660,665,670,683,688,693,705,710,718,723,728,733,738],{"type":573,"attrs":574,"content":575},"paragraph",{"textAlign":49},[576,579,587],{"text":577,"type":578},"Eramet has bought out Tsingshan’s 49.9% stake in its ","text",{"text":580,"type":578,"marks":581},"lithium operations in Argentina",[582],{"type":583,"attrs":584},"link",{"href":585,"uuid":49,"anchor":49,"target":49,"linktype":586},"https://www.benchmarkminerals.com/","url",{"text":588,"type":578}," in a deal worth around $699 million.",{"type":573,"attrs":590,"content":591},{"textAlign":49},[592],{"text":593,"type":578},"The move gives the French miner complete control of its Centenario direct lithium extraction (DLE) project and removes any concerns associated with Chinese ownership.",{"type":573,"attrs":595,"content":596},{"textAlign":49},[597,599,605,607,612,614,620],{"text":598,"type":578},"This is the latest deal in the lithium space in recent months despite lithium carbonate prices having fallen 60.19% year-on-year, according to ",{"text":600,"type":578,"marks":601},"Benchmark’s Lithium Price Assessment",[602],{"type":583,"attrs":603},{"href":604,"uuid":49,"anchor":49,"target":49,"linktype":586},"https://www.benchmarkminerals.com/lithium/lithium-prices/table",{"text":606,"type":578},". Earlier in October, ",{"text":608,"type":578,"marks":609},"Rio Tinto acquired Arcadium Lithium",[610],{"type":583,"attrs":611},{"href":585,"uuid":49,"anchor":49,"target":49,"linktype":586},{"text":613,"type":578}," for $6.7 billion and General Motor’s entered a $625 million ",{"text":615,"type":578,"marks":616},"joint venture with Lithium Americas",[617],{"type":583,"attrs":618},{"href":619,"uuid":49,"anchor":49,"target":49,"linktype":586},"https://benchmarkminerals.app.link/nPLBipjwjOb",{"text":621,"type":578},".",{"type":573,"attrs":623,"content":624},{"textAlign":49},[625,627,632],{"text":626,"type":578},"“The deal is counter-cyclical but confirms the long-term view of several producers, like ",{"text":628,"type":578,"marks":629},"Pilbara",[630],{"type":583,"attrs":631},{"href":585,"uuid":49,"anchor":49,"target":49,"linktype":586},{"text":633,"type":578}," and Rio Tinto, supporting a true belief the market will recover,” said Federico Gay, principal analyst for lithium at Benchmark.",{"type":573,"attrs":635,"content":636},{"textAlign":49},[637],{"type":638,"attrs":639},"image",{"id":49,"alt":640,"src":641,"title":49,"source":49,"copyright":49,"meta_data":642},"Lithium carbonate prices have dropped over 60% in the last 12 months","https://a.storyblok.com/f/287943243085208/859e3e4915/bm-lithium-prices-october-2024.png",{},{"type":644,"attrs":645,"content":647},"heading",{"level":646,"textAlign":49},4,[648],{"text":649,"type":578},"Why has Eramet bought out Tsingshan’s share?",{"type":573,"attrs":651,"content":652},{"textAlign":49},[653],{"text":654,"type":578},"Despite lithium prices generally following a downward trajectory over the last 12 months, Eramet taking full control of the Centenario project will allow it to fully benefit from any future rise in lithium prices.",{"type":573,"attrs":656,"content":657},{"textAlign":49},[658],{"text":659,"type":578},"“Eramet is quite optimistic on market conditions changing rapidly–and favourably–particularly on the EV demand front,” Gay said.",{"type":573,"attrs":661,"content":662},{"textAlign":49},[663],{"text":664,"type":578},"The deal is not expected to sour the relationship between the two companies. Eramet and Tsingshan remain partners on a nickel mine in Indonesia.",{"type":644,"attrs":666,"content":667},{"level":646,"textAlign":49},[668],{"text":669,"type":578},"What does this mean for Argentinian lithium?",{"type":573,"attrs":671,"content":672},{"textAlign":49},[673,675,681],{"text":674,"type":578},"In 2024, Eramet is forecast to account for around 5.1% of Argentina’s lithium production, according to ",{"text":676,"type":578,"marks":677},"Benchmark’s Lithium Forecast",[678],{"type":583,"attrs":679},{"href":680,"uuid":49,"anchor":49,"target":49,"linktype":586},"https://www.benchmarkminerals.com/lithium/data-reports/forecast",{"text":682,"type":578},". This is due to rise to 7.8% in 2030.",{"type":573,"attrs":684,"content":685},{"textAlign":49},[686],{"text":687,"type":578},"Eramet regaining full control of its operations will increase the proportion of Argentinian lithium that has no risk of falling foul of the Inflation Reduction Act’s Foreign Entity of Concern Rules.",{"type":573,"attrs":689,"content":690},{"textAlign":49},[691],{"text":692,"type":578},"In addition, this deal highlights Eramet’s general confidence in Argentina as a base to build a lithium business from.",{"type":573,"attrs":694,"content":695},{"textAlign":49},[696,698,703],{"text":697,"type":578},"Benchmark analysis shows that although Chile is forecast to remain the ",{"text":699,"type":578,"marks":700},"dominant lithium player in South America",[701],{"type":583,"attrs":702},{"href":585,"uuid":49,"anchor":49,"target":49,"linktype":586},{"text":704,"type":578},", Argentina has a larger project pipeline.",{"type":573,"attrs":706,"content":707},{"textAlign":49},[708],{"text":709,"type":578},"“Eramet is optimistic about Argentinian lithium, and all brine-sourced lithium in particular,” Gay said.",{"type":573,"attrs":711,"content":712},{"textAlign":49},[713],{"type":638,"attrs":714},{"id":49,"alt":715,"src":716,"title":49,"source":49,"copyright":49,"meta_data":717},"Chile is set to maintain top spot in South American lithium scene","https://a.storyblok.com/f/287943243085208/06cf67bb15/bm-chile-argentina-supply-v3.png",{},{"type":644,"attrs":719,"content":720},{"level":646,"textAlign":49},[721],{"text":722,"type":578},"What is Eramet’s position in lithium?",{"type":573,"attrs":724,"content":725},{"textAlign":49},[726],{"text":727,"type":578},"The Centenario project in the Salta province of Argentina is Eramet’s signature lithium asset.",{"type":573,"attrs":729,"content":730},{"textAlign":49},[731],{"text":732,"type":578},"“Tsingshan was an excellent ally in securing the initial funding and supporting the early stages of construction for the Centenario project,” Gay said.",{"type":573,"attrs":734,"content":735},{"textAlign":49},[736],{"text":737,"type":578},"Eramet is also developing a 10,000 tonne per year DLE facility in France which is due to come online in 2030.",{"type":573,"attrs":739,"content":740},{"textAlign":49},[741,746,753],{"text":742,"type":578,"marks":743},"Benchmark’s special issue – Direct Lithium Extraction: The rise and potential of new lithium extraction technology – explores this topic in further detail. ",[744],{"type":745},"italic",{"text":747,"type":578,"marks":748},"Request your copy now",[749,752],{"type":583,"attrs":750},{"href":751,"uuid":49,"anchor":49,"target":49,"linktype":586},"https://source.benchmarkminerals.com/downloads/special-issues",{"type":745},{"text":621,"type":578,"marks":754},[755],{"type":745},"Eramet has bought out Tsingshan’s 49.9% stake in its lithium operations in Argentina in a deal worth around $699 million. The move gives the French miner complete control of its Centenario direct lithium extraction (DLE) project and removes any concerns associated with Chinese ownership. This is the latest deal in the lithium space in recent […]",[758],{"slug":561,"name":562,"content":759},{"job_title":564,"image":760,"bio":567,"linkedin":568},{"filename":566},"\u003C!--#storyblok#{\"name\": \"article\", \"space\": \"\", \"uid\": \"28eab329-2171-47d7-b31e-08415c0215a7\", \"id\": \"\"}-->","article",[764,767],{"slug":765,"name":766},"critical-minerals","Critical Minerals",{"slug":768,"name":8},"lithium","private",{"id":49,"alt":771,"name":771,"focus":771,"title":771,"source":771,"filename":772,"copyright":771,"fieldtype":773,"meta_data":774,"is_external_url":51},"","https://a.storyblok.com/f/287943243085208/061c4d8b1b/bm-eramet-argentina.jpg","asset",{"alt":771,"title":771,"source":771,"copyright":771},"Oct 25, 2024","25th October 2024",[],[],1783682667020]