POSCO secures RIGI approval for second stage of Sal de Oro lithium project in Argentina with $547M investment
Type: Investment · Technology: Mining · Country: Argentina · Announced: 2026-06-05
South Korean mining giant POSCO received approval from Argentina's RIGI committee for the second stage of its Sal de Oro lithium project, committing $547 million to expand production at the Salar del Hombre Muerto site spanning Salta and Catamarca provinces. The expansion will increase annual lithium carbonate output to 23,000 tons, with projected annual exports exceeding $300 million. This follows POSCO's earlier $1.6 billion investment announced in June 2023 for the integrated lithium project, which includes a commercial hydroxide lithium plant in General Güemes, Salta, inaugurated in October 2024 with 25,000 tons annual capacity. The Sal de Oro project is strategically positioned within Argentina's lithium triangle, a region central to global battery supply chains. The RIGI framework provides fiscal, customs, and exchange rate benefits to large-scale investments, reinforcing Argentina's appeal as a destination for critical mineral development.
Counterparties
- POSCO Holdings (Developer)
- Origin Energy (Regulatory Body)
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