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Russia and Argentina sign contract for lithium extraction in Salar Tolillar

The Russian company Uranium One, belonging to the state nuclear corporation Rosatom, and the Argentine Alpha Lithium signed an agreement for the joint exploitation of the Salar Tolillar deposit, located in the Puna of Salta, in northern Argentina.

“Lithium is a necessary material to guarantee the supply of the future green economy. The development of this direction is strategically important for the state corporation Rosatom, “said Andrei Shutov, president of Uranium One, quoted in a statement from the Russian corporation.

According to the businessman, “the deposit will be developed taking into consideration the local communities, with the use of innovative technologies that have a minimal impact on the environment.”

This deposit, with an area of ​​27,000 hectares, is located in the so-called “lithium triangle”, rich in hydromineral raw materials with a high content of the precious metal, used mainly for the manufacture of batteries.

The agreement signed today involves the creation of a joint venture and the acquisition of shares of Alpha Lithium for a value of US $ 30 million, the equivalent of 15% of the values, while the remaining 85% will remain in the power of the Argentine counterpart. .

After the completion of the technical-economic foundation stage of the deposit exploitation project, Uranium One will have the right to increase its investments in the joint company to US $ 185 million and 50% of the shares.

Shutov said his company “currently values ​​other rare metal deposits” in this region.

For his part, the president and CEO of Alpha Litium, Brad Nicole, celebrated the partnership with Uranium One and highlighted “the company’s ability to carry out large-scale industrial projects”, as well as its extensive experience in mining. .

“Uranium One’s interest in the lithium industry is clear proof that this metal is critically important to the future of the world economy,” he added.

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