Direct lithium extraction at 90% of capacity in Salta

Until 2024 the question was whether direct lithium extraction would work at industrial scale. There is operating data now. According to Eramet, on 1 October 2026, the Centenario-Ratones plant in Salta reached 90% of its 24,000 t-LCE nominal capacity in June 2026. The 11,000 t-LCE expansion, at about US$350 million, remains subject to a final investment decision.

The International Energy Agency, in the Global Critical Minerals Outlook 2025, records lithium prices down more than 80% since 2023, back to pre-pandemic levels, with demand up nearly 30% in 2024 and a market deficit projected only in the 2030s.

The plant reaches full capacity in the worst price window of the cycle. The operator funds reagents, power and water through a two-year ramp-up with no price premium, which is why the expansion appears as a conditional project.

DLE has proven recovery at scale in Argentina. The next proof is cash: carrying opex and working capital until the projected deficit returns pricing power to producers.