Argentina Lithium & Energy Emerging as a Lithium Exploration Powerhouse

Argentina set to surpass Chile and Australia in lithium production states new stock exchange report.Argentina's lithium industry is gearing up for a dynamic 2024 as the South American nation is set to surpass Chile and Australia in lithium production within three years, states a newThe report specifies the growth is being driven by the surging global demand for lithium, particularly for electric vehicle batteries and renewable energy storage systems.

The deal also involves an offtake agreement that allows Peugeot Citroen Argentina S.A., a subsidiary of Stellantis N.V. to purchase up to 15,000 tonnes of potential future lithium production annually for seven years from Argentina Lithium’s subsidiary, Argentina Litio y Energia S.A. — along with an option to extend.

Other automotive companies in Argentina’s booming lithium play include Ford, General Motors and BMW, while Tesla’s CEO Elon Musk has begun talks with Argentina's new President Javier Milei, expressing interest in the country's lithium reserves. Musk reportedly is keen on finding new, close-to-the-US sources of lithium concentrate to avoid supply bottlenecks.

Rideout said the Stellantis deal has positioned Argentina Lithium to be funded to advance the two core projects toward the resource delineation stage over the next two years. "We are currently drilling our second major campaign on the Rincon West Project and expect preliminary results in the next few weeks while waiting for permits to begin work in the Antofalla North Project," he said.

Source: Energy Industry News (energyindustrynews.net)

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