Eramet is considering a first expansion of Centenario-Ratones and plans to apply for inclusion in Argentina’s Large Investment Incentive Regime, known as RIGI. What is at stake in this next phase?
Jean-Baptiste Hogard: This first expansion marks a major milestone in Eramet’s long-term commitment to Argentina. It would add 11,000 t-LCE, or metric tons of lithium carbonate equivalent, per year to the plant’s current nominal capacity of 24,000 t-LCE, thereby increasing the site’s production capacity.
The project would involve expanding the existing site, allowing us to leverage the infrastructure, remaining capacity, experience and expertise already developed at Centenario-Ratones, while benefiting from lower capital intensity. The project could represent an additional investment of approximately US$350 million, subject to a final investment decision.
In this context, RIGI could play an important role. This Argentine investment incentive regime for large projects provides tax, customs and foreign-exchange benefits, as well as regulatory stability for 30 years. By applying for inclusion in the regime, we want to position this new phase within the momentum generated by Argentina to attract industrial investment, develop its lithium value chain and strengthen its position in critical-mineral supply chains.
The Centenario plant is expected to be fully operational by the end of 2026, just two years after its inauguration. How would you assess this ramp-up period?
JBH: First and foremost, I would like to warmly thank the Eramet Eramine teams and all the Group teams that have been working on this project for several years. Reaching 90% of nominal capacity in June 2026, approximately one year after the plant started operating and in line with the project development plan, was an important milestone. We are now moving toward a level close to 100% of nominal capacity by the end of the year.
This achievement is the result of a collective effort, the teams’ ability to address the technical challenges inherent in starting up such a complex industrial facility in a challenging natural environment at an altitude of nearly 4,000 meters, and their daily commitment to stabilizing operations.
Centenario-Ratones is also a major technological and industrial achievement for Eramet and Argentina. The site’s ramp-up makes it the first fully integrated, next-generation facility using direct lithium extraction, or DLE, to operate at industrial scale outside China.
What is the long-term potential of Centenario-Ratones?
JBH: Centenario-Ratones combines several major strengths. The salar contains more than 15 million metric tons of extractable LCE mineral resources, making it one of the most promising salt flats in the “Lithium Triangle” spanning Argentina, Bolivia and Chile. Favorable geological conditions and secure access to freshwater resources are also important factors. This gives us significant visibility for the long-term development of additional phases.
We can also rely on direct lithium extraction technology developed by Eramet, as well as the experience gained by our teams since the plant began operating and ramped up production. This combination of resource quality, technological expertise and operational experience provides a solid foundation for continuing to develop the site.
The first expansion represents a concrete step along this path. It should allow us to gradually increase Centenario-Ratones’ production capacity while strengthening its position among the most competitive assets in the global lithium industry. Over the longer term, our ambition is to build a leading, sustainable and competitive lithium platform in Argentina, creating value for the country and contributing to the global energy transition.
