en.Wedoany.com Reported - Argentina's Minister of Economy, Luis Caputo, announced that the Large Investment Incentive Scheme (RIGI) committee has approved Phase II of the Sal de Oro project. This is a lithium mining project developed by South Korean company POSCO on the border between the provinces of Salta and Catamarca.

Caputo shared this information on social platform X, stating that the new phase of the project is expected to involve an investment of $547 million to build the infrastructure required to produce 23,000 tons of lithium carbonate annually. According to estimates, once operational, the project could generate over $300 million in annual foreign exchange revenue through exports. These figures solidify Sal de Oro's position as one of the most significant and dynamic lithium projects currently in Argentina.

The Sal de Oro project is located in the Salar del Hombre Muerto, one of the most promising lithium-producing regions in Argentina's Puna Plateau. POSCO already has established operations and industrial deployment in the area, with its high-altitude mining activities linked to processing operations at the General Güemes Industrial Park in Salta province.

The approval also includes the green light for the San Matías gas pipeline (gasoducto San Matías), an infrastructure project related to Argentina's liquefied natural gas (GNL) export plan. The national government confirmed that the impact and expansion of investments attracted by RIGI continue, with the scheme remaining the primary official tool for attracting global capital to the mining and oil and gas sectors.

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