Up to R$ 30 Billion May Be Invested in Lithium Extraction and Processing Projects in the Jequitinhonha Valley in Minas Gerais

Written by Roberta Souza

Published on 24/07/2023 at 18:01

Imagem: Vale do Jequitinhonha / Reprodução: Diário do Comércio

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Minas Gerais May Become A Hub For Lithium Exploration With New Investments And Generate 1,000 New Jobs

Minas Gerais is on the verge of becoming an important hub for lithium exploration and processing, with expectations of attracting investments between R$ 20 billion and R$ 30 billion for the Jequitinhonha Valley by 2030. Companies like Latin Resources, Atlas Lithium, Sigma, and MG LIT (Lithium Ionic), along with the already operating Companhia Brasileira de Lítio (CBL), plan to transform the region with four confirmed projects, with an investment amount approaching R$ 5 billion. As a result, the creation of over a thousand direct jobs, as well as thousands of indirect jobs throughout the region, is anticipated.

Investments of the MG LIT Project And Its Impacts in Minas Gerais

MG LIT (Lithium Ionic) is one of the leading Canadian lithium mining companies, with investments of R$ 750 million for the extraction of “white gold” in Araçuaí, Itinga, and Salinas. The company expects to start operations in 2025 and has already invested about R$ 160 million to date. It is estimated that the mine will have an annual production capacity of approximately 250 thousand tons of spodumene concentrate, with a lithium-sulfur content of 5.5%. The expectation is to generate more than a thousand direct jobs and numerous indirect jobs in the region.

Commitment of The Minas Gerais Government to The Lithium Valley Region

The Minas Gerais government is committed to transforming the Jequitinhonha Valley into a hub of innovation and technological development by attracting investments related to the lithium supply chain. The region consists of 14 municipalities and houses the largest national lithium reserve, an essential resource for various applications, including long-lasting batteries used in electric vehicles and electronic devices. The Lithium Valley project aims not only at mining but also encompasses all stages of the supply chain, aiming for social, economic, and infrastructural development of the region.

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Perspectives And Future Investments for The Lithium Valley

The Lithium Valley is an ambitious project that has the potential to significantly boost the development of the Jequitinhonha Valley and Northern Minas Gerais. The attraction of billion-dollar investments will allow for the growth of the entire production chain, including related services and infrastructure. The director of Invest Minas, Ronaldo Barquette, emphasizes that the planned resource package is not limited to investments from mining companies but also includes improvements in infrastructure such as transmission lines, water, gas, airports, and highways. The future is promising for the region, which is preparing to lead the green revolution, with lithium as the fuel for sustainability and innovation.

Up to R$ 30 Billion May Be Invested in Lithium Extraction and Processing Projects in the Jequitinhonha Valley in Minas Gerais

Minas Gerais May Become A Hub For Lithium Exploration With New Investments And Generate 1,000 New Jobs

Investments of the MG LIT Project And Its Impacts in Minas Gerais

Commitment of The Minas Gerais Government to The Lithium Valley Region

Perspectives And Future Investments for The Lithium Valley

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Up to R$ 30 Billion May Be Invested in Lithium Extraction and Processing Projects in the Jequitinhonha Valley in Minas Gerais

Minas Gerais May Become A Hub For Lithium Exploration With New Investments And Generate 1,000 New Jobs

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