China’s stainless steel giant Tsingshan has invested $375 million to build a lithium plant in Argentina with France’s Eramet, as it expands its presence in the battery supply chain.
The Wenzhou-based company, which is the world’s largest producer of stainless steel, will contribute the bulk of the funding to build the plant, which will supply 24,000 tonnes a year of lithium for batteries.
“We see it as an opportunity for Europe to secure tomorrow's critical metals for the energy transition,” Christel Bories, chief executive of Eramet, said.
The deal is the latest expansion by . . .