POSCO Argentina secured new financial backing to advance the expansion of Sal de Oro, its lithium project at the Salar del Hombre Muerto, shared by Salta and Catamarca. IDB Invest announced a credit facility of up to US$700 million, aimed at the development, commissioning and progressive ramp-up of production at the complex.
By Panorama Minero
The transaction includes up to US$250 million in direct financing from IDB Invest and an additional US$450 million that may be mobilized from financial institutions.
Sal de Oro provides for capacity of up to 25,000 tonnes per year of lithium hydroxide and 23,000 tonnes of lithium carbonate. Combined, the two plants could reach production of approximately 48,000 tonnes per year of lithium products.
The project also has a significant industrial dimension for Salta. POSCO already operates a lithium hydroxide plant in General Güemes, adding a chemical processing stage to production originating from the Puna. The strategy is aimed at integrating extraction and processing to supply markets linked to the battery value chain.
The international financing follows the inclusion of Sal de Oro II in the Large Investment Incentive Regime (RIGI), an initiative that includes the construction of the lithium carbonate plant. The minimum eligible investment established for this project under the regime is US$207.94 million.
IDB Invest classified the transaction as Environmental and Social Category A, due to its potential to generate significant impacts, and included it within its strategy to strengthen regional critical mineral supply chains.
The new financing consolidates the scale of Sal de Oro and Salta’s position in the lithium value chain: from brine production in the Puna to chemical processing and the export of higher value-added products.
