Following Zijin Mining Group's recent announcement of a $380 million investment to build a lithium carbonate plant in Argentina and upcoming investments in gold and copper mining projects, Chinese President Xi Jinping said over the weekend that his country and the South American people deepen their relationship. financial connections.
In detail, official communiqués from both countries report Xi's meeting with President Alberto Fernandez in Beijing, where the former agreed to provide more than $23.7 billion in funding to Argentina, of which $14 billion has already been approved for infrastructure projects, with the rest to be decided regarding the Belt and Road Initiative.
Xi also told Fernandez that both countries should implement existing hydropower and railway projects and deepen cooperation in trade, industry, infrastructure, nuclear power, investment, and anti-epidemic measures.
The idea of promoting green and sustainable development projects, as well as initiatives related to the digital economy, is also mentioned in the agreement signed between Beijing and Buenos Aires.
Argentina is located in the so-called "lithium triangle" of South America along with Chile and Bolivia. It is the world's fourth largest producer of battery metal and the ninth largest producer of silver. It also contains uranium reserves estimated at 30,000 tons of proven resources.