Toyota Tsusho Corporation announced on Wednesday the firm starts development of lithium resource with Australian company in salt lake in northwest of Argentina. It is the first lithium interest for Japanese company, according to the firm. The plan is to start production in 2012 and produces annual 15,000 tonnes of lithium carbonate and 36,000 tonnes of kalium chloride in 2014. The firm will utilize the lithium for automobile battery material.
The firm has studied the lithium resource development through cooperation with Japan Oil, Gas and Metals National Corporation (JOGMEC). The firm decided to develop the Olaroz salt lake area for expectation of resource with lithium rich and lower magnesium along with infrastructure including road and gas supply. The firm agreed with Orocobre Limited of Australia for joint feasibility study on Tuesday. They establish joint venture for the study starting production in 2012. The development cost is estimated to be around US$ 100 million.| M | T | W | T | F | S | S |
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