MercoPress. South Atlantic News Agency

Posco announces US $ 830 million investment in Argentina

Posco's lithium project at Salar del Hombre Muerto is on the border between the provinces of Salta and Catamarca

Posco Argentina's CEO KwangBok Kim Wednesday announced an US $ 830 million investment after a meeting with Cabinet Chief Juan Manzur. Also present at the gathering was company director SungKook Chung.

“We made the decision to execute our project beginning the construction of our commercial plant in March of this year with a direct investment of about 830 million dollars,” KwangBok Kim told reporters at Casa Rosada.

Meanwhile, Manzur posted on his Twitter account that “Today I received the president of Posco Argentina, KwangBok Kim and director, SungKook Chung. This company is carrying out a comprehensive lithium extraction project at the Salar del Hombre Muerto -between Salta and Catamarca- which is in an advanced exploration stage.”

“We are analyzing different ways of state support so that this undertaking can continue to grow and generate new jobs, under the environmental standards of our country. We continue to strengthen the economic recovery,” Manzur added.

KwangBok Kim also acknowledged Manzur had “promised to give all the necessary support for our project to be successful in Argentina.”

“Starting in March, we will begin the first stage of construction of the commercial plant that will significantly generate jobs and resources for Argentina,” KwangBok Kim went on.

Posco's “integral lithium project” is called Sal de Oro and is located at Salar del Hombre Muerto, on the border between the provinces of Salta and Catamarca.