China’s CNGR Looks to Snap Up More Lithium Projects in Argentina
- Senior executives of firm visited Argentine brine deposits
- CNGR push comes as US and allies grapple with China dominance
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CNGR Advanced Material Co., a Chinese battery-component maker and Tesla Inc. supplier, is looking to buy major stakes in Argentina brine deposits to extend its foray into the lithium-rich region as it builds its own supply chain outside the Asian nation.
Senior CNGR executives visited at least three deposits in Argentina last week, according to people familiar with the matter. Those include the Jama project in Jujuy province and the Rincon project in Salta province, said one of the people, who asked not to be named as the information isn’t public.