Wednesday, September 28, 2022

Automotive companies descend into the Argentine lithium triangle

Argentina has the largest lithium reserves in the so-called Northern Triangle, made up of nearby provinces. Salta, Jujuy and Catamarca, whose governors have formed the Lithium Board – integrated by the nation – to outline common policies that encourage investment and – as such – protect local ownership of resources. also for the national government, Lithium is the key to attracting the dollar to the country, and it expects to carbonate more than 200,000 tonnes of lithium, six-fold from its current production of 37,500 tonnes. Today Argentina is the fourth world producer after Australia, Chile and China.

* battery

Payab announced an electrification plan a few days ago in which it seeks to secure 70% of the battery generation capacity needed to support its plan to build more than two million electric vehicles at an annual rate by the end of 2026.

in that framework, Oval Firm signed a non-binding Memorandum of Understanding with Rio Tinto to “explore a major lithium purchase agreement from its Rincon project in Salta, Argentina”said in a global statement. “This is part of a multi-metal MoU that builds on the scale of Ford’s aluminum business and includes a potential opportunity in copper,” he said.

Also recently, General Motors (GM) vice president, Omar Varga, announced in Washington to Temporary Economy Minister Silvina Batakis that he would be investing in lithium for the batteries of its vehicles in collaboration with the Livent company.

“We can confirm that GM and Livent have signed a 6-year agreement, starting in 2025, for the supply of lithium hydroxide used in the cathodes of Ultium batteries that are used in the Chevrolet Blazer EV, Chevrolet Silverado The EV will power electric vehicles like the GMC Hummer EV and the Cadillac LYRIQ recently introduced”, he told the firm via Viaduct.

“Both GM and Livent share a commitment to responsible operations and a sustainable supply chain. The lithium hydroxide supplied to GM is derived from Livent’s operations in Argentina. This once again demonstrates GM’s commitment to Argentina, a country that will play an important role with electromobility”, he said.

Alternative

Globally, Livent is a supplier of Tesla, and representatives of that firm were in Puna, Catamarca, with Governor Raul Jalil visiting the lithium plant. Envoy of tycoon Elon Musk seeks alternative suppliers in Argentina, and for this reason Livant plans to triple its production in the country by 2025.With an investment of over US$1,000 million.

also with That firm reached a BMW agreement in 2021So that Argentina becomes the second largest supplier of lithium for its vehicles this year.

Earlier, the Jujuy government of Gerardo Morales did a report Toyota pacts with Sales de Jujuy To supply lithium for the company’s hybrids.

Nation World News Desk
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