French miner Eramet considers US$350-million lithium expansion in Argentina

French mining group Eramet will submit an application to expand its Centenario-Ratones lithium project in Salta province, a move that could lead to an investment of around US$350 million.

The proposed expansion would add 11,000 tonnes per year to the facility’s current 24,000-tonne annual production capacity of lithium carbonate, a key raw material for electric vehicle batteries.

"Eramet reaffirms its long-term commitment to Argentina, with a potential additional investment of approximately US$350 million in Centenario-Ratones, subject to a final investment decision," the company stated following high-level diplomatic meetings in Paris

A decision could be taken before the end of 2027. The announcement coincided with President Javier Milei’s visit to Paris for the ‘Argentina Week’ investment roadshow. 

Eramet's chief executive, Christel Bories, met with the delegation, while executives held further talks with Presidential Chief-of-Staff Karina Milei and Economy Minister Luis Caputo.

Bories said in the company’s statement that "Argentina possesses the necessary resources and industrial potential to play an increasingly important role in the global lithium industry."

Eramet said it would apply for inclusion under Milei’s flagship RIGI investment incentive scheme, seeking to access tax and regulatory benefits.

The French firm has operated in Argentina since 2011 and invested roughly US$950 million to date in the initial direct lithium extraction plant in northern Argentina, which began operating in 2025, reaching 90 percent capacity by June 2026.

Eramet, which is 27 percent state-owned by France, with the Duval industrial family as its principal shareholder – also mines nickel, manganese, and mineral sands.