France and Argentina signed a framework agreement on critical minerals such as Lithium on Friday, of which Argentina has the reserves of the Third World, aimed at promoting cooperation and investments in this key sector for energy transition.
The “Memorandum of Understanding”, signed in Buenos Aires by the delegate of the French Minister for Foreign Trade Laurent Saint-Martin and the Argentine Secretary of State in Mines Luis Lucero, aims to “make the mining sector a strategic priority” of Franco-Argentines, said Saint Martin.
“Roadmap”, “An instrument that opens a field of cooperation” to materialize, according to Mr. Lucero, the Memorandum of Understanding has the intention of “raising the bilateral mining association at the political level, taking into account the crucial challenges raised by critical minerals for energy and digital and digital solutions,” added Mr. Saint Martin to the signing of the French embassy.
Almost 8 billion invested by France in Argentina
It also aims to “accelerate the deployment of investment projects of French companies in the coming months and years, and strengthen the mobilization of public cooperation instruments for funds,” added the French minister, ensuring the “common desire to build a modern and sustainable mining industry.”
French direct investments in Argentina experienced a +43% increase in 2024 for a year, reaching the military of $ 7.6, all combined sectors, France became a fifth foreign investor in the South American country.
The mining sector has forged a significant part in this progression, with a supporter of $ 850 million in the ERAMET group, for its first direct lithium extraction plant in 2024 in the Argentine province of Salta (Northwest).
Argentina, recalled Mr. Lucero, has signed during a year of cooperation and investment in the mining field with the United States and the United Arab Emirates, in particular.
Source: BFM TV
