Argentine oil company Pluspetrol buys Canadian lithium producer firm for more than US $80 million

The Argentine company Pluspetrol bought the local lithium assets of the Canadian company LSC Lithium Corporation, for almost US $85 million, which since 2016 operates mineral exploitation projects in the provinces of Saltas and Jujuy.

Pluspetrol is the third largest oil company in the country interested in entering into the mining business, the company created a mid-60% stake in the Salar de Arizaro area, in Salta, of which LSC had the remaining 40%.

All LSC operations, totaling approximately 300,000 hectares, are located in the “Lithium Triangle”, an area at the intersection of Argentina, Bolivia and Chile where the most abundant deposits of lithium brine are in the world.

The Canadian company, which withdrew from its participation in the country as a result of a strategic review process, had almost 10 years of experience in the region with special development of the Pozuelos (100% participation) and Pastos Grandes (100) projects. %) in the province of Salta.

The Canadian firm also had the development of the Salinas Grandes projects (51%) between the provinces of Salta and Jujuy; Rio Grande (100%) also in Salta; and Jama (68%), in July.

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