Moin horizon,sorry,now it's getting wild. I think Arcadium is...

Moin horizon,
sorry,now it's getting wild.

I think Arcadium is the last company that has a good relationship with the provincial government(s).

A brief historical overview

• June 2023: Livent(CEO P. Graves) paid a fine of more than 5 billion pesos for under-invoicing of exports

• Utilised an IFC loan (A$180-million) in July 2023
• At that time: Makhtar Diop, IFC's Managing Director

"Our investment in Allkem is part of IFC's strategy to develop global supply chains that

accelerate the transition to a low-carbon future while creating jobs,"

• First Quarter 2024 Results about $100M margin; claimed to be on track for 40% increase in sales volumes for 2024
• Subtract circa US$100M for “other” cost eg merger etc(never seen merger costs in this amount, are they hidden penalties (customs)?)
• has established itself in the European tax haven IRL

Except for the first point, nothing reprehensible,but...

Wednesday, March 20, 2024

Arcadium aims to reduce its costs by US$60-80mn this year, while local media reported that workers in Argentina are being laid off.

March 2024:

Supreme Court suspends key Arcadium Lithium projects in Argentina

Statement from Arcadium:"All existing permits and the company's environmental impact reports remain valid,"

The ruling partially gave rise to a precautionary measure in August 2021 presented by the chief of an indigenous community in the area, who denounced, among other things, a negative water balance in the salt flat due to the mining extraction of "huge amounts of water." sweet and salty system" and irreversible environmental damage as the Trapiche River dries up.

has just entered into a legal dispute with the government authorities of Salta regarding licence payments.

https://elacopleinformativo.com.ar/salta-reclama-216-millones-de-regalias-a-una-minera/

Only a few questions:

Is it in the World Bank's interest to support a company that is happy to open its hand for a favourable loan, but only a short time later lays off workers out of greed for profit?

Is it in the interests of current Argentine policy, whether national or provincial, that ECAs such as the World Bank's are trampled underfoot while every effort is made to attract large investments?

Are impending environmental lawsuits due to excessive water consumption helpful?

I have said it here before, not so long ago, the RIGI in its final version with the maximum limit of 5% for mining royalties means that the agreement between GLN and the provincial government would not be RIGI-compliant.

Could this be a more logical explanation for the current permit status?