Taken from a link posted by someone else on another thread.
Lithium: An American mining company ready to start a project in Catamarca The firm Albermarle obtained the environmental permit for the exploration phase that will mean an outlay of US $ 47 million.cer the demand for the "white gold" existing in the Argentine Northwest. Beneath the salt flats there are significant lithium reserves. Natalia Muscatelli011/04/2023 19:32Clarín.comEconomyUpdated to 11/04/2023 19:32In a move to extract the lithium available in the Argentine Northwest, the US company Albemarle, has just received the environmental permit for the exploration phase of this mineral in the province of Catamarca that will demand about US $ 47 million. In 2022, the mining company announced a new stage of its activity in that province and this year, the company began a campaign that includes almost 15 thousand meters of drilling in 14 months. "During this period, we will seek to determine how the resource behaves in the salt flat and what kind of projects can be developed in the region. All this will be done with a development of labor and local hiring in a sustainable way with the highest international standards, "explained Luciano Berenstein, country manager of Albemarle Argentina. If the results of the exploration studies are positive, and if the macroeconomic conditions are met, about US $ 500 million will be invested to produce lithium in the country, "said the executive. Currently, the lithium market projects a significant boost for the coming years, which could grow up to 8 times by 2030 compared to 2020. According to calculations made by the North American mining company, the demand for lithium in the world will reach 3.7 million tons in 2030.This is due to several factors, including the electromobility revolution, focused on the development of the electric vehicle market, especially in Europe, China and the United States. In addition, its employability expands to the areas of sustainable energy production, electronics, glass, health and agriculture, among others. Asked about how he sees the political and economic context of Argentina to invest, Berenstein considered that "regardless of its political and economic context, Argentina has a great opportunity for growth and development thanks to its natural resources, such as lithium, which are experiencing a great boost in the world market. "Taking into account the context, investments in the sector can have a significant impact, providing opportunities for growth and development for in our case, Catamarca, the local workforce and the country in general," he said. The price of lithium peaked in March at $85,50 a tonne. Then it dropped to $37,500 and currently stands at $<>,<>. The downturn has to do, in part, with a drop in the production of electric cars in China. However, Tomás Lanardone, from the MHR Legal law firm specialized in energy issues, clarifies that "the price is very volatile but the trend is upward because demand continues to grow. And because the supply does not end up accompanying that demand, "he explains. In Argentina there are around 50 lithium projects in different phases, although only two are in production: the Fénix project in Catamarca and the Olaroz project in Jujuy. According to data handled by the Ministry of Mining, this year these two projects will produce around 37,000 tons of lithium carbonate. However, there are several projects that will soon enter the production stage, such as Cauchari-Olaroz operated by Minera Exar, with the participation of Ganfeng and Lithium Americas. In Catamarca, in particular, the new investment of US $ 700 of the Chinese group Zijin Mining will be added, which is in charge of the Tres Quebradas project for which they disbursed in a first stage more than $ 500 million. Taking into account the projects that will start producing in the short term, the amount of exportable tons could reach 120,000 in 2023, according to Lanardone. "It is a number that happens to compete perfectly with the rest of the minerals" such as gold and silver, which until now have been leading the podium of exports.
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