Argentina and Chile Sign Landmark Agreement for Lithium Exploration

Argentina and Chile have inked an agreement to foster collaboration in harnessing lithium resources, emphasizing value addition, environmental considerations, social aspects, and human resource development. During a virtual signing ceremony, Argentina’s Minister Santiago Cafiero and his Chilean counterpart, Alberto van Klaveren, established a Binational Working Group on Lithium and Salt Flats.

The agreement, witnessed by Mining Secretary Fernanda Ávila and Chile’s Deputy Mining Secretary Suina Chahuán Kim, focuses on key pillars such as environmental, economic, and social sustainability, human resource development, and value addition to this strategic mineral.

“The group serves as a platform to promote joint actions through the exchange of experiences among companies and scientific teams, human resource training, and encouragement of diverse value chains associated with this industry,” stated Argentina’s Ministry of Foreign Affairs.

Following the memorandum’s signing, technical teams from both countries will rejuvenate efforts to identify opportunities for creating regional value chains. Chile’s Foreign Minister, Alberto van Klaveren, highlighted the significance of this agreement, stating that it stems from discussions in April 2022 between Chilean President Gabriel Boric and Argentine President Alberto Fernández, emphasizing the importance of energy integration, renewable energy transition, production chains, and value creation around lithium.

The working group is also exploring actions to enhance the value of lithium extraction, aiming for a higher-purity resource and promoting increasingly sustainable production technologies.

In line with these objectives, the binational working group aims to examine how to integrate into global chains by participating in industrial production links. Both countries have also agreed to continue exchanging information on policies, programs, and best practices promoting the transformation of lithium and its derivatives for battery and component production.

Argentina is actively coordinating regional policies to encourage innovation, technological development, and value addition to this strategic resource, as demonstrated through the Lithium Board, consisting of provinces, ministries, and subject matter experts.

Lithium Triangle

The Lithium Triangle comprises Argentina, Chile, and Bolivia, holding around 65% of global lithium resources. In 2022, lithium exports from Argentina amounted to approximately $695 million, ranking 18th in national exports. Official projections suggest that external sales could surpass $1 billion in 2023.

Additionally, Argentina is poised to surpass Chile in global exports from 2026 onward due to upcoming projects in the next three years.

The understanding process included Argentina’s Ministry of Economy’s Mining Secretary, the Ministry of Foreign Affairs’ Secretary of International Economic Relations, the Secretary of Strategic Affairs, representatives from lithium-rich Argentine provinces, the Argentine Embassy in Chile, and the Y-TEC company.

On behalf of Chile, the working group includes the Chilean Ministry of Foreign Affairs, the Secretary of International Economic Relations, and the Ministry of Mining.

Source: Ámbito

To read the original news publication, please visit: https://www.ambito.com/energia/litio-argentina-y-chile-firman-acuerdo-binacional-promover-la-industrializacion-n5869788

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