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POSCO lithium project financing and legal disputes in AR
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2026-08-28 06:10 UTC → 2026-08-28 10:37 UTC ·
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POSCO lithium project financing and legal disputes in Argentina AR
POSCO Holdings has secured a $700 million short-term credit limit from IDB Invest facility to fund expand its brine lithium extraction operations at the Sal de Oro project, located in Argentina. Argentina’s Salta and Catamarca provinces. The financing consists of an initial $250 million from IDB Invest and up to $450 million from international private financial institutions. This capital is intended for to provide working operations at POSCO Argentina’s first capital for the company’s lithium hydroxide and second brine lithium carbonate plants, with the second facility slated for completion in the latter half supporting an expansion aimed at reaching a combined annual production capacity of 2026. approximately 48,000 tons of lithium products. The company expects to benefit project benefits from tax incentives under Argentina’s Large-Scale Investment Incentive Regime (RIGI) and reduced financial costs through international agreements (RIGI), which provides POSCO with 30 years of regulatory stability and tax exemptions. The development is also expected to create roughly 620 permanent jobs in the IDB. This follows a report from region. However, POSCO Argentina of its first quarterly profit is currently involved in a legal dispute with local contractors over unpaid construction costs for infrastructure at the second quarter of 2026. Hombre Muerto salt flat. While the company maintains that only about $350,000 has been frozen, contractors claim that judicial records indicate approximately $2 million is subject to seizure. These claims may include additional operational and financial damages.
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- 2026-08-28 10:37 UTC POSCO lithium project financing and legal disputes in AR
- 2026-08-28 06:10 UTC POSCO lithium project financing in Argentina
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