The Emirati company called UMPC (United Mining Projects Corporation) confirmed its entry into Argentina with a US$550 million investment to launch the Río Grande Sur lithium project, located in the northwest of the province of Catamarca. The announcement was confirmed by the company in April and is the result of various trade and business missions that the local government has conducted with representatives from the Gulf nation over the last four years. UMPC is a company focused on lithium and other critical minerals and is entering Argentina through its local subsidiary, Marhen Lithium. The founder and CEO of UMPC, Bradley Pielsticker, said that he expects Río Grande Sur to be "one of the most advanced projects in national lithium production."
By Panorama Minero
The Río Grande Sur lithium project, which spans approximately 9,000 hectares in the heart of the Catamarca puna, will require about US$550 million for construction, a process that will continue up to 2028. During this phase and the consequent entry into production, it is expected that Marhen Lithium S.A. will employ more than 700 workers initially and generate more than 200 full-time jobs in its active phase, with an estimated impact on the local economy of approximately US$168 million.
"Pielsticker is actively involved in the operation of mining facilities worldwide. With the Río Grande Sur project in Catamarca, along with other projects in Africa, UMPC is positioning itself as a key player in promoting a sustainable mobility future and clean energies," UMPC stated.
Moreover, the company's CEO stated that they align with the commitment to set new standards in mining practices under an environmentally responsible and economically advantageous identity, highlighting their focus on innovation and sustainability within the global lithium production landscape: "Our practices allowed us to complete all non-invasive studies and receive environmental impact permits and the respective authorizations in just one year from the project's inception."
UMPC completed the acquisition of Marhen Lithium S.A in December 2022, and the subsidiary finalized the acquisition of the property and exploration rights in Catamarca in January 2023.
In 2023, Marhen achieved several milestones: first, they installed a temporary camp on-site and completed all preliminary studies. Then, UMPC obtained approval for the Environmental Impact Assessment from the Argentine authorities, which allowed for the start of drilling. And now, as part of its plan, the exploration campaign is set to begin more aggressively, extending throughout 2024.
