Eramet confirmed that its Centenario Ratones project, in Salta, continues to advance according to its ramp-up schedule and is expected to reach close to 100% of nameplate capacity before the end of 2026. The company maintained its annual production guidance of between 17,000 and 20,000 tonnes of lithium carbonate equivalent (LCE), while highlighting continued improvements in operating costs and progress on studies for a future plant expansion.
By Panorama Minero
Centenario Ratones’ operating performance was one of the main drivers of the group’s results during the first half of 2026. Production reached 8,440 tonnes of lithium carbonate equivalent, compared with just 710 tonnes in the same period of the previous year, while sales totaled 8,320 tonnes.
This growth was accompanied by a significant improvement in the business unit’s profitability: EBITDA for the Lithium Division improved from a €37 million loss in the first half of 2025 to a positive €61 million in the same period this year.
According to the company, following a first quarter affected by temporary gas supply constraints and maintenance work on certain equipment, the plant regained operating momentum during the second quarter, averaging 85% of nameplate capacity and reaching 90% in June, in line with the project’s planned ramp-up schedule.
The company maintained its 2026 production guidance unchanged, estimating output of between 17,000 and 20,000 tonnes of lithium carbonate equivalent. It also indicated that unit operating costs continue to decline as production increases.
Beyond the ramp-up, Eramet is already working on the project’s next stage of growth. The company reported that it has completed the Pre-Feasibility Study for an initial brownfield expansion that would add 11,000 tonnes per year of production capacity. Detailed engineering studies have already begun, and a final investment decision could be made by the end of 2027. The project is also eligible for Argentina’s Large Investment Incentive Regime (RIGI).
At the corporate level, Eramet recorded adjusted EBITDA of €276 million during the first half of the year, an increase of 45% compared with the same period in 2025. The company attributed the improvement primarily to higher lithium and manganese volumes, together with savings generated through its ReSolution efficiency program.
Presenting the results, Christel Bories, Chair and Chief Executive Officer of the group, said Centenario Ratones’ performance confirms the potential of the Argentine asset.
“Our Centenario plant reached 90% of its nameplate capacity in June, confirming the value of this world-class asset,” Bories said, adding that the company is creating the conditions to return to a path of profitable and sustainable growth.
