SHANGHAI, Feb 24 (SMM) – On December 22, 2021 in Argentina, Tibet Summit Resources officially started the construction of its lithium carbonate salt lake project with the capacity of 50,000 mt/year.

Tibet Summit Resources have officially announced three construction contracts signed with Sunresin, Tusholdings, and PowerChina, which will provide equipment installation, operation services, and technology services for the project. The total value of the three contracts reaches 4.54 billion yuan.

The project is under construction at the Angels Lithium Salt Lake in Salta province of the Argentine Republic (SDLA), and it will take about 12 months to complete the construction.

The SDLA project is located in the central area of the "Lithium Triangle" in South America. The lithium metal resource reserves are 385,000 mt, the equivalent lithium carbonate resource reserves are 2.05 million mt, and the average concentration of the entire deposit is 502 mg/L. The total proven and controlled lithium metal resource reserves are 307,535 mt, equal to 1.64 million mt of lithium carbonate resource reserves, and the average concentration exceeds 500mg/L.

The project currently has an annual production capacity of 2,500 mt of lithium carbonate. Phase I of the project is expected to be put into operation by the end of 2022, and the capacity will reach 27,500 mt.

In addition to the SDLA project, Tibet Summit Resources also invested in the Arizaro project in Argentina in 2018. This project also has a good location, with relatively lower transportation costs and complete infrastructure.