Dubai-based United Mining Projects Cooperation is investing USD 550 mn in a lithium project in Argentina’s Catamarca province through its subsidiary, Marhen Lithium, according to a Linkedin statement. The project also aims to develop the lithium into value-added products, with the funds set to be disbursed over a four-year period, according to iProfessional.

More details: The project is expected to create 700 jobs during the construction phase and keep 200 during production, generating some USD 168 mn for Argentina’s economy, iProfessional said.

About the project: Catamarca generates some 20k tonnes of lithium carbonate equivalent (LCE) every year and hosts most of the country’s exploration projects. Argentina is the fourth top producer of the mineral in the world, behind Australia, Chile, and China.

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