Australian companies expand lithium investments in Argentina
Australian companies that have already announced investments totaling US $ 1 billion since the inauguration of Mauricio Macri's presidency in the mining, tourism, agriculture and renewable energy sectors are expected to add new initiatives for at least another US $ 500 million, Its majority for the production of lithium, affirmed the camera of investors of Australia and the government of that country.
The announcement was made by the local representative of the Australian Government's Trade and Investment Commission (Austrade), Norma Ramiro, and the CEO of the Export Council of Australia (ECA), Lisa Mc Auley, who is visiting Argentina To promote the interest of Australian companies in the country and for the presentation of the document "Renewal of Argentina: taking advantage of the reform of the second economy of South America."
The document summarizes the new spirit that exists on the part of Australian companies with the country, and whose content will be distributed among the Australian export sector with the aim of promoting Argentina as a renewed investment destination.
For Australian entrepreneurs, "Argentina started almost two years ago a program of social and economic reform aimed at modernizing its economy and reducing obstacles to foreign trade and investment opportunities, making it a more friendly place to do business for companies Australians. "
In that sense, they highlighted the high potential that the country has to position itself at a regional level. "In 2016 Australian companies made two new investments totaling US $ 200 million; There were recent announcements in 2017 for another US $ 860 million, and some 12 new Australian companies entered the local market in 2016 and another four entered the first quarter of 2017, "said both executives.
They also said that additional investments have begun for at least US $ 500 million in mining in northern Argentina, and one of them is Orocobre, which among other initiatives has the country's largest lithium production plant in the Olaroz salar Jujuy .
In this regard, they emphasized that a combination of factors such as "the new Federal Mining Agreement, the trips made by the Mining Secretariat, and the Australian presence in Chile in the sector" were key to the realization of new investments in lithium.
The interest in Argentina in the sector has to do with the fact that the country is part of what is called the triangle of lithium, along with Chile and Bolivia, which has reserves for up to 10% of the world total.
Another goal of Mc Auley's visit to the country "is the launch of a training program, through a global alliance, thanks to an initiative between Canada and Australia for trade professionals who can be trained and certified to Global level "in order to facilitate investment. The executive will return to the country for the formal launch next December.
Mc Auley also noted "the strong leadership of Argentina that is taking in the G20 (Group of more developed countries) and B20 (Group of entrepreneurs of the G20 countries), in view of which will host the summit In question during 2018, "and mentioned that the exit of the default had an important weight for this new perception.
Among those she described as other strengths of the country, the executive said that "Argentina has education, infrastructure, mining and knowledge economy, where Australia has capabilities to complement the country." Meanwhile, among the challenges remaining for Australians here are "to understand the culture, the regulatory environment and overcome the barriers to access certain markets," he said.
These sectors highlighted the potential of start-ups, in particular Fintech (financial technology), which can complement the boom in local demand for banks and the financial system.
Mc Auley and Ramiro also noted that Australian companies were interested in the Renewable Renewable Energy Generation program and announced, without naming, that "two companies are coming in September to see the possibility of installing in the North to assist energy to populations already The mining industry ".
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