Stolen from the GXY page just thought I would share ti here as well.
Joe Lowry: "Argentina is already one of the world powers in lithium"
march 9, 2018
For years there has been talk of a possible lithium boom in Argentina, but nobody has ever said with all the letters that the country is already one of the world powers in the matter. Who affirms it, now, is none other than Joe Lowry, one of the men who knows most of this mineral in the world.
Consultant and advisor to the main companies of the sector, Lowry was in the country to meet with businessmen and observe closely the local phenomenon. "Today Argentina has an important place, but it should have a bigger one, and I think that's how it will be in the future," he says.
Why does not the lithium boom end here? He was asked. "I think it is due to the problems that the country had in the last decade with the global financial community, because having resources is important, but also having a business-friendly climate," he responds.
A good example, according to Lowry, is Bolivia, which has immense resources, but a hostile climate towards investment and, as a conclusion, does not export any lithium. If you only talk about resources, you have to put Argentina, Bolivia and Chile first, but that is not the same as knowing with certainty that there are
According to the vision of who is known as "Mr. Lithio", Argentina should have in the near future many more deposits in production than those it has today. "It seems to me that he will achieve it because he is in the process of restoring confidence," he says.
In addition, in this race to be the main producer of lithium in the world, Argentina has another advantage: in Chile, very expensive terms have been applied by the law for producers through the payment of a royalty, which has made investors Turn your heads (and your wallets) to this side of the mountain range.
But not everything is production. According to Lowry, you have to look at what happens with the market. In that sense, the reality is that the demand for lithium is going to triple in the next five years and with the projects that are currently in operation can not meet that demand, so yes or yes more investment is needed .
In three years one in three cars will work with lithium batteries. For that you need many kilos of the mineral. But speaking only of cars is to underestimate the growth of this market, because there will be from motorcycles to buses. So, Argentina is in a perfect position to grow this industry.
What investment is needed to make Argentina an even bigger world power in lithium? "In the next five years, demand will grow by 500,000 tons, each tonne will demand US $ 15,000, so the necessary amount of investment worldwide will be US $ 7500 million, and Argentina will receive US $ 2,000 million," says the expert. .
Something has already become true. Argentina has two projects in operation, Salar de Olaroz and Salar del Hombre Muerto. According to the Chamber of Mining Entrepreneurs (CAEM), they jointly produce 30,000 tons of LCE (lithium carbonate equivalent), which represents 16% of world production. In addition, FMC invested US $ 300 million to produce 18,000 tons per year. There are other projects in dance, but its beginning is not known for sure.
Another debate in the sector is whether the country can or should manufacture lithium batteries. Lowry, who was part of the FMC mining company and was in charge of the Asian market, is adamant: "That does not make sense," he says. "Making batteries is an Asian business, and I say it with knowledge, because I have been selling lithium to the industry since the 1990s," he adds.
Although he did not want to answer if the "white gold" is the new soy for the country, "Mr. Litio" said goodbye with a phrase that gives rise to optimism: "Argentina has reserved a privileged place in the future of lithium, and that future is already beginning. "
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