The nation’s largest steel maker POSCO has started the construction of a lithium plant in Argentina. The firm said on Monday it held a groundbreaking ceremony for the lithium plant on Feb. 14 (local time) in Argentina where around 200 people including its chairman Kwon Oh-joon and Argentina's Salta government attended.
POSCO's lithium plant is set to enter Pozuelos's salk lake at an altitude of 4,000 meters to produce high purity lithium amounting to around 2,500 tons. They are set to be supplied for car battery makers at home and abroad.
Considering that one electric car needs around 40 kilograms of lithium for a battery, its capacity stands at around 60,000 cars. Pozuelos's salk lake is known as the best place to produce lithium as it has around 1.5 million tons of lithium.
Early this year, POSCO signed a contract with Argentina's company Lithea, which holds a license to the mineral right to the lake for the supply of raw materials. At the plant, POSCO's original technology, which can significantly shorten the extracting period of lithium, will be used.
The chairman Kwon said during the opening speech, "When POSCO's unique and eco-friendly lithium extracting technology is applied, both Korea and Argentina can create new green value for the future industry."