Technology companies linked to mining observe in Argentina a growing market with strategic possibilities for sectors such as lithium and copper, two of the segments with the best prospects in the country.Under that premise, we spoke with Amanda Hall, CEO and founder of the Canadian company Summit Nanotech, who gave her perspective on the current situation in the region around lithium and the details of the denaLi™ DLE technology, which promotes new standards for litiferous extraction and which already has a presence in northwest Argentina.
The lithium sector has experienced global changes linked to price and downward trends in relation to historical prices observed months ago.How do you estimate the sector will adapt in the future and what is your vision of the market?Have they identified specific risks and strategies to mitigate them?
In Latin America and the world, the lithium industry is of great importance both economically and in the energy transition process that countries face, playing a fundamental role in electromobility and the storage of renewable energy. The characteristics of lithium and the projection of its demand worldwide have established it as an element that could make a relevant difference for the development of countries such as Argentina, Chile and North America. Like any market, lithium is exposed to price fluctuations.However, what is important for us in the long term is that global demand for lithium will increase and current production will not be able to meet these requirements.According to data from Wood Mackenzie, by 2022 the lithium supply was 706,000 TPY, while the demand projection for 2035 is 3,700,000 TPY.It is precisely these data that motivate us to continue investigating and positioning ourselves as a preponderant actor.
What are your considerations regarding possible replacements for lithium in technologies linked to energy storage and the production of EVs?Are demand fundamentals still strong?
In the mining world, advances are always sought to replace minerals with alternatives that are easier to scale and lower in price.Chile experienced this in the 1920s and 1930s with the decline of saltpeter due to the invention of synthetic saltpeter.Although we know that advances are being made in other types of energy storage technologies, large-scale adoption of new battery technologies takes time due to technical, economic and scalability challenges.Summit knows that lithium will continue to play an important role in the transition to electric vehicles and renewable energy storage, and that is our technological and business vision for the short, medium and long term future.
What comments do you have regarding the development of lithium in Latin America and particularly in Argentina?What is the interest of Summit Nanotech in the country and its projections in the territory?
The expansion and modernization of the lithium industry requires significant investments in technology and production capacity.For this to happen, countries like Chile and Argentina, through their regulatory and institutional definitions, must be able to attract investments and promote technological innovation to live up to the demands of a sustainable operation that can respond to the demands of the market.In Argentina we developed bench tests with brines from the Incahuasi salt flat at our Santiago facility during the fourth quarter of 2023. Data collected there will be used to support a Pre-Feasibility Study and de-risk future on-site demonstration.For our company, Argentina is a very attractive market and one in which we see opportunities to help promote this industry in a sustainable and balanced way from an environmental point of view.
How do you manage relations with the new Argentine government?What are the most relevant regulatory aspects that you consider when operating in the country?
Coordination with governments is key to achieving significant progress.We are in permanent contact with the different authorities to promote an industry with a vision for the future and committed to the territories where we operate.To advance our strategy, we believe that the most important thing is to act in a spirit of collaboration and generate trust in our interlocutors, who in this case are the Argentine authorities.At Summit Nanotech we continually work with a holistic vision of non-metallic mining, seeking to change the paradigm of mining operations and incorporating technology, continuous innovation and a new way of approaching and establishing relationships with communities to generate a long-term bond that is become a virtuous circle in the economic, scientific and social development of the country.
What alliances has Summit Nanotech created recently and what lithium projects are they currently involved in?
In August 2023, we announced a joint venture agreement with Power Minerals to accelerate lithium production, with the intention of sharing assets and ownership in the Salar de Incahuasi, in Argentina.Our goal is to increase the global supply of lithium through a sustainable and environmentally responsible production process.The Salar de Incahuasi brines have had positive results with Summit's sustainable technology, a process that extracts lithium from the brine using a sorbent and water recovery solution.With our denaLi™ technology it will be possible to efficiently generate the large volumes of high-quality lithium needed to drive the global energy transition in an environmentally friendly and community-oriented way.
How do you define the technology developed by Summit Nanotech, its advantages and specific value, and what kind of contribution it can provide to scale production?What are the main achievements and milestones reached so far?
At Summit Nanotech we are driving new standards for lithium extraction through denaLi™ DLE technology.Tested in the field, our technology reimagines lithium mining using a proprietary sorbent material and water recovery process to extract high-purity lithium much faster and more sustainably.We know that climate change is an urgent global problem and that efficiency in mining operations is also an essential element.Summit Nanotech is contributing to the evolution of today's lithium mines by extracting high-purity lithium more quickly and efficiently to meet global demand for electromobility. Another essential aspect of our work, hand in hand with innovation and sustainability, is efficiency in everything we do.At Summit Nanotech we change the paradigm of traditional mining in evaporation pools;With our processes we have low water consumption and we manage to recycle 95% of this element.Our waste generation is 70% less than traditional mining and our production process is more efficient, reducing from 12 to 18 months to one day, which allows us to have a performance of more than 90%.
Considering the above, is it possible to produce lithium in a sustainable way, covering all community, water use and energy use aspects?
We are convinced that it is possible to produce lithium in a sustainable way.For this we have worked since our beginnings, to develop, hand in hand with technology and innovation, a clean and efficient operation that allows us to change the paradigm of traditional mining.Our system has been shown to recover up to 95% of water in our process.Always prioritizing the local.Summit is a comprehensive lithium extraction company.We collaborate with communities and companies, contributing our pioneering technology to projects on the ground.We seek a global and 360º vision in our operation, taking care of the balance with our workers, clients and communities.
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