On February 15, Argentine President Mauricio Macri met POSCO’s Chairman, Dr. Kwon Oh Jun, with the objective of discussing the company’s lithium extraction projects in the north of Argentina.

During the meeting, Dr. Kwon stressed the excellence of the new technology that his company has developed to increase production in an efficient and eco friendly way.

President Macri welcomed and emphazised the importance of this project for the growth of the local economy and the creation of jobs in Salta and Jujuy province.

On February 14, POSCO, the largest steel company in South Korea, the "ground-breaking ceremony" of a lithium extraction plant located at Pozuelos, took place in Salta province. The plant will produce about 2.500 tons in the first year.

The company intends to expand its annual production of lithium up to 20.000 tons per year with the construction of a new plant in Cauchari, located in the neighbor province of Jujuy.

This is a major Korean investment that will contribute to the expansion of the Argentinean mining sector and help to developing new products such as lithium, which is so essential to new technologies.