China, Argentina deepening ties beyond mining

MINING.COM Staff Writer | February 6, 2022 | 11:11 am Battery Metals China South America Copper Gold Lithium Silver 
China, Argentina deepening ties beyond mining
Argentinian President Alberto Fernandez and Chinese President Xi Jinping. (Image from Casa Rosada, Twitter).

Following Zijin Mining Group’s recent announcement of a $380-million investment to build a lithium carbonate plant in Argentina and ​​of upcoming investments in gold and copper projects, over the weekend Chinese president Xi Jinping said his country and the South American nation are deepening their investment ties.

In detail, official communiqués from both countries report on a meeting between Xi and President Alberto Fernández in Beijing in which the former agreed to provide Argentina with more than $23.7 billion in financing, of which $14 billion were already approved for infrastructure projects and the rest will be decided for the Belt and Road initiative.

Xi also told Fernández that both countries should implement existing hydropower and railway projects and deepen cooperation in trade, industry, infrastructure, nuclear energy, investment and anti-epidemic efforts.

The idea of promoting green and sustainable development projects, as well as in initiatives related to the digital economy, was also mentioned in the agreement signed between Beijing and Buenos Aires.

Argentina sits within South America’s so-called “lithium triangle” along with Chile and Bolivia. It is the world’s fourth-largest producer of the battery metal and the ninth-largest producer of silver. 

With files from Bloomberg News.

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