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The Lundin mining group will invest 4.2 billion dollars in Argentina

The Toronto-based Lundin mining group will invest a total of $4.2 billion dollars for the development of a copper, gold and silver project in the Argentine province of San Juan (west of the country), through the “Josemaría project” - according to official sources reported this Thursday.

According to an official statement, this investment will be divided into three phases: with the first tranche of $3.1 billion dollars until 2025, during construction of the project.

This initiative will operate from 2026 and is expected to last 19 years - during which time net exports worth $1.7 billion will be generated annually, according to official estimates.

The investment was announced after a meeting between Argentine President Alberto Fernández, and Josemaría CEO Adam Lundin - a meeting at the Casa Rosada also attended by Economy Minister Martín Guzmán and the Minister of Productive Development, Matías Kulfas.

“Argentina has enormous potential. We are very excited about this project because copper is needed to be able to electrify the entire planet and Josemaría has the potential to be one of the great green projects,” Adam Lundin said.

At: https://marketresearchtelecast.com/the-lundin-mining-group-will-invest-4-2-billion-dollars-in-argentina/200495/

Adam, Lukas, Harry and Jack Lundin in San Juan Province, Argentina.

Canada's Lundin mining group announced a record $4.2 billion, 19-year investment in the country's mining sector - which has grown to over $4 billion in exports this year.

"Copper is central to the coming green revolution," Production Minister Matías Kulfas added.

"Electric vehicles use 5 or 6 times more copper than conventional vehicles, so this is a very important investment for Argentina."

French, Chinese firms restart lithium project in Argentina

French mining group Eramet said Monday it was reviving a joint project with China's Tsingshan to build a lithium production plant in the north of Argentina to supply the booming electric car industry.

Construction will begin next year on a deposit in the northwestern province of Salta, with the facility set to open in 2024, said Emaret chief executive Christel Bories.

The plant - slated to produce 24,000 tonnes of lithium annually - is expected to meet 15% of Europe's lithium needs, Bories told reporters in a conference call, confirming that building would get underway in the first quarter of 2022.

At: https://www.batimes.com.ar/news/economy/french-chinese-firms-restart-lithium-project-in-argentina.phtml

Argentine President Alberto Fernández welcomes Eramine South America CEO Daniel Chávez Díaz at the Casa Rosada earlier today.

Eramine - the local subsidiary of French mining giant Eramet - announced a $400 million investment to produce an estimated 24,000 tons of lithium carbonate by 2024.

At 33,000 tons, Argentina is the world's fourth-largest producer of Lithium after Australia, Chile, and China.

The country produces 7.5% of the world's lithium - but has nearly 25% of global lithium resources.

Liz Cheney's revelation on 1/6 committee interviewing 150-plus witnesses should terrify McCarthy

Imagine for a moment House Minority Leader Kevin McCarthy leisurely sipping on his morning coffee when he suddenly sees the news that the select committee investigating Jan. 6 has interviewed more than 150 people already in their probe.

Fun, right? That heart-attack-inducing moment may have actually occurred Thursday when Republican Rep. Liz Cheney of Wyoming dropped a bomb.

“We’ve had, actually, over 150 interviews with a whole range of people connected to the events, connected to understanding what happens, so that just gives you a sense,” Cheney, the panel’s vice-chair, told Politico.

“It is a range of engagements—some formal interviews, some depositions … There really is a huge amount of work underway that is leading to real progress for us.”

At: https://www.dailykos.com/stories/2021/11/4/2062322/-Liz-Cheney-s-revelation-on-Jan-6-committee-interviewing-150-plus-witnesses-should-terrify-McCarthy

Argentina, Australia's Fortescue unveil $8.4 billion green hydrogen investment plan

Australian mining billionaire Andrew Forrest is planning what could be up to an $8.4 billion "green hydrogen" investment in Argentina, the South American country's government announced after a meeting between Forrest and President Alberto Fernández.

Fernández and Forrest met on the sidelines of the COP26 climate summit in Glasgow.

Forrest, 59, whose Fortescue Metals Group Ltd (FMG.AX) aims to become carbon-neutral by 2030, is a major backer of green hydrogen, a zero-carbon fuel made by electrolysis using renewable power to split water into hydrogen and oxygen.

Fortescue is looking at developing the project in Río Negro Province - in Argentina' Patagonia region - with a view to producing green hydrogen on an industrial scale, which the government said would help create over 15,000 direct jobs and 40,000 ones indirectly.

"It is expected to turn Río Negro into a global green hydrogen export hub by 2030," the government said. "This is the most important international investment for our country in the last 20 years."

At: https://www.reuters.com/business/sustainable-business/argentina-fortescue-unveil-84-bln-green-hydrogen-investment-plan-2021-11-01/

Argentine President Alberto Fernández and the CEO of Australian metals giant Fortescue Andrew Forrest, meeting during today's COP26 climate summit in Glasgow.

Fortescue's announced investment would allow Argentina to produce enough green hydrogen to power 250,000 homes by 2024, and 1.6 million homes by 2028.

Renewables (mainly wind and solar power) already make up 11% of Argentina's installed electric capacity.
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