Zijin Mining Group Co. Ltd., through its subsidiary Liex, will construct a $380 million lithium carbonate plant at the Tres Quebradas lithium project in Argentina, Reuters reported Feb. 4, quoting the Latin American country's Ministry of Production.

The plant is expected to produce 20,000 tons of lithium carbonate yearly, with an aim to double that in the medium term. Plant construction is slated to begin this year, with first production by 2023-end, according to the government statement.

The Tres Quebradas project was owned by Toronto-headquartered Neo Lithium Corp., which Zijin acquired for about US$719.6 million.

Meanwhile, Zijin intends to "make other important investments" in gold and copper in Argentina and is looking for other advanced projects, the government said.