Argentina, Chile, Bolivia and Brazil are analyzing the creation of a lithium cartel of sorts in charge of expanding South America’s processing capacity, turning more of their mined lithium into batteries and tapping into the electric vehicles (EVs) manufacturing sector.
The group would emulate similar schemes, such as the Organization of the Petroleum Exporting Countries (OPEC), in terms of coordinating production flows, pricing and good practices, representatives of the Argentinean delegation said at the annual PDAC Convention, held this week in Toronto, Canada.
Argentina, Chile, Bolivia have been negotiating since July last year, when foreign ministers of each country met at the Community of Latin American and Caribbean States (Celac) conference in Buenos Aires.
The three countries make up the so-called lithium triangle, which has about 65% of the world’s known resources of lithium and reached 29.5% of world production in 2020.
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