Mount Qomolangma in Tibet has invested about US $1.7 billion to build two salt lake projects with a total annual production capacity of 10-150000 tons of lithium carbonate in Argentina.

On the afternoon of November 16, 2021, the company and the Salta provincial government of the Argentine Republic formally signed the Investment Agreement on the industrialization Development Project of Salta Salt Lake Resources (hereinafter referred to as "Investment Agreement") at the 14th China-Latin American Entrepreneur Summit (hereinafter referred to as "Summit"). Zhang Jieyuan, vice chairman of the company, and Gustavo Saenz (Gustavo Adolfo Ruberto Saenz), governor of Salta province, completed the signing as representatives of both sides. The signing of this investment agreement marks the official launch of two salt lake development projects with a total planned investment of US $1.7 billion in Argentina.

The China-Latin American Entrepreneur Summit was founded in 2007 by the China Council for the Promotion of International Trade (CCPIT). It has been successfully held for 13 years and is known as "the flagship brand of practical cooperation between China and Latin America". The scale of the summit activities has continued to expand in recent years, and its influence has deepened year by year, which has been highly valued by the political and business circles of China and Latin America. This year's 14th summit is co-sponsored by the China Council for the Promotion of International Trade, the Chongqing Municipal people's Government and the people's Bank of China, with the theme of "overcoming difficulties together, moving forward hand in hand, and jointly creating a new resplendence of economic and trade cooperation between China and Latin America."

According to the investment agreement signed this time, Mount Qomolangma in Tibet and its subsidiary companies will invest about US $700 million in 2022 to build an annual production capacity of 50,000 tons of lithium carbonate products in the Anheles Salt Lake in Salta Province. the project is scheduled to start construction by the end of 2021 and is expected to be completed by the end of 2022. At the same time, the company will invest US $15 million to complete the geological exploration of Arizaro Salt Lake in Salta Province in 2022, obtain mining rights and environmental assessment permits (EIA);, and plan to invest no less than US $1 billion to build an annual production capacity of 5-100000 tons of lithium carbonate products in Arizaro Salt Lake.

The government of Salta province of Argentina supports the company to invest in the mining industry in Argentina, speed up the approval of (EIA) and other compliance procedures, provide advice or guidance on the development, production and export of the company's lithium carbonate products, and facilitate infrastructure construction, equipment import, foreign exchange investment and technology introduction needed for project development.

Zhang Jieyuan, vice chairman, said: the signing of the investment agreement with Salta Province in Argentina further clarifies the specific phased objectives, development direction and total investment of the company's lithium salt lake mining project. at the same time, it also defines the assistance and convenience that the Argentine government will provide to the company in the process of project development. This contract fully verifies the Argentine government's high recognition of the strength of Mount Qomolangma in Tibet, and also demonstrates the determination and ability of Tibet's Mount Qomolangma to continuously develop the market for lithium resources and adhere to the road of green, sustainable and high-quality development.

Saenz, governor of Salta province, said at the signing ceremony: congratulations on the signing of the cooperation agreement between Mount Qomolangma and its holding company Plasa and Tosa. The project is very important to Salta province and will provide employment for the labor force and surrounding communities in Salta province. I wish the investment project all the best!

Salta province is located in the core of the famous South American Lithium Triangle in northern Argentina. Of the 20 lithium salt projects announced by the Argentine Ministry of Mines, 12 are located in Salta province. At present, there are no lithium salt production projects in Salta province, and there are only two projects under construction.

In recent years, driven by the strong demand of the new energy industry, the prices of lithium-related products continue to rise, many enterprises around the world have invested and developed the Argentine lithium salt lake project, and the planning of the original local projects have also accelerated the progress of development. On the other hand, the company foresaw the broad development prospects of the new energy industry earlier, and completed the full control of the Angeles and Arizaro Salt Lake projects through cross-border acquisitions in 2018, laying the foundation for the development of new energy.