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Released August 25, 2023 | sugar land
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Written by Amir Richani for Industrial Info Resources (Sugar Land, Texas)--The nation's mining minister highlighted that Argentina is gearing up to become a top lithium producer and supplier.
This week, Argentina held the AmCham Energy Forum, which had the presence of the nation's energy and mining ministers. The objective of the forum is to inform about developments in the sectors and promote investments in the South American country.
During her presentation, Minister of Mines Fernanda Avila highlighted that mining exports only accounted for $3.8 billion last year, representing about 4% of all country exports, the highest since 2012. Out of that, gold and silver accounted for 78% of the exports, and lithium only 18%.
Nevertheless, Argentina is expanding its lithium prospects and promoting investments to increase production over the next years with some 38 projects in the stages of exploration, construction and production. Currently, the country has three lithium mines in production, with Exar's project at the Salar Cauchari-Olaroz coming online in June. Subscribers to Industrial Info's Glboal Market Intelligence (GMI) Metals & Minerals Project Database can click here to read a detailed project report.
Additionally, another five new lithium projects under construction should come online in the next few years.
"We will go from the 34,000 tons of lithium carbonate that we export today to more than 200,000 in the coming years. Argentina is the fourth producer of lithium, but it could become the second worldwide producer if we continue in this race," said Avila during her presentation.
To increase investments amid strict currency controls and export quotas, Argentina introduced a decree directed toward companies looking to invest in export-focused projects. As a benefit, these companies that are part of the project will enjoy access to foreign currency in Argentina despite strict controls.
Currently, three mining companies are part of this reform, with another three preparing to join, according to the minister.
Thanks to these programs, in the last three years, some $17 billion has been invested in the Argentine mining sectors, with many companies eyeing lithium developments in the South American country.
Lithium mining has gained strength in Argentina, especially in the last months, after Chile nationalized the industry, and it is now in the process of negotiating the state company's involvement in the sector.
Meanwhile, Bolivia, the nation with the world's largest lithium resources, has also nationalized the industry, and it has so far closed two production deals with China and Russia.
Argentina could capitalize on its neighbors' situation and see its lithium industry grow as long as framework stability and investment protection policies are in place.
According to the U.S. Geological Survey, the world's largest lithium resources are located in the lithium triangle, which is comprised of Bolivia, Argentina, and Chile.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking more than 200,000 current and future projects worth $17.8 Trillion (USD).
This week, Argentina held the AmCham Energy Forum, which had the presence of the nation's energy and mining ministers. The objective of the forum is to inform about developments in the sectors and promote investments in the South American country.
During her presentation, Minister of Mines Fernanda Avila highlighted that mining exports only accounted for $3.8 billion last year, representing about 4% of all country exports, the highest since 2012. Out of that, gold and silver accounted for 78% of the exports, and lithium only 18%.
Nevertheless, Argentina is expanding its lithium prospects and promoting investments to increase production over the next years with some 38 projects in the stages of exploration, construction and production. Currently, the country has three lithium mines in production, with Exar's project at the Salar Cauchari-Olaroz coming online in June. Subscribers to Industrial Info's Glboal Market Intelligence (GMI) Metals & Minerals Project Database can click here to read a detailed project report.
Additionally, another five new lithium projects under construction should come online in the next few years.
"We will go from the 34,000 tons of lithium carbonate that we export today to more than 200,000 in the coming years. Argentina is the fourth producer of lithium, but it could become the second worldwide producer if we continue in this race," said Avila during her presentation.
To increase investments amid strict currency controls and export quotas, Argentina introduced a decree directed toward companies looking to invest in export-focused projects. As a benefit, these companies that are part of the project will enjoy access to foreign currency in Argentina despite strict controls.
Currently, three mining companies are part of this reform, with another three preparing to join, according to the minister.
Thanks to these programs, in the last three years, some $17 billion has been invested in the Argentine mining sectors, with many companies eyeing lithium developments in the South American country.
Lithium mining has gained strength in Argentina, especially in the last months, after Chile nationalized the industry, and it is now in the process of negotiating the state company's involvement in the sector.
Meanwhile, Bolivia, the nation with the world's largest lithium resources, has also nationalized the industry, and it has so far closed two production deals with China and Russia.
Argentina could capitalize on its neighbors' situation and see its lithium industry grow as long as framework stability and investment protection policies are in place.
According to the U.S. Geological Survey, the world's largest lithium resources are located in the lithium triangle, which is comprised of Bolivia, Argentina, and Chile.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking more than 200,000 current and future projects worth $17.8 Trillion (USD).
