International
Argentina’s lithium pipeline promises “white gold” boom as Chile tightens control
April 24 |
In Argentina’s mountainous north, a robust portfolio of lithium projects about to come online looks set to unlock a production wave that could triple its output of the key metal for electric vehicle batteries in the next two years.
The world’s fourth-largest producer of the silvery-white metal sits within the so-called “lithium triangle” and has been attracting investment from Canadian mining companies to ones from China with a regional and market-driven model, even as a wave of resource nationalism has swept through the region.
Neighboring Chile, the region’s top lithium producer, last week unveiled plans for a state-led public-private model, spooking investors. Bolivia has long maintained tight control over its huge but largely untapped resources, while Mexico nationalized its lithium deposits last year.
In Argentina, although state energy company YPF YPFD.BA began exploring for lithium last year, the sector has been driven largely by private enterprise and periodic approvals of new projects as the government has sought to attract more export dollars through mining, a rare bright spot amid the economic downturn.
“Argentina has been granting concessions to projects for the last 10 years,” said Franco Mignacco, president of the Argentine Mining Business Chamber. “That’s why today we have this level of lithium investment and development and the possibility of growth.”
Mignacco estimated that Argentina’s current production of 40,000 tons of lithium carbonate could triple by 2024-2025 to 120,000 tons, which could take it beyond China and closer to Chile, which currently produces about 180,000 tons per year.
That would be driven by new projects coming online in addition to the two currently in production. The country has six lithium projects under construction and 15 in advanced exploration or feasibility stage, Mignacco said.
Argentina, Bolivia and Chile together sit on half of the world’s mineral resources beneath otherworldly salt flats in the high-altitude Andean plains.
But strategies for developing it diverge.
“Argentina’s lithium sector has thrived through a decentralized pro-market strategy,” said Benjamin Gedan, director of the Latin America program at The Wilson Center, adding that, in contrast, Bolivia’s lithium sector “has repeatedly stagnated as a result of excessive state control.”
Chile, he said, may have found a “smart middle ground” with its public-private model, which would hand majority control of all new lithium projects to the state in a nationalist shift, but would still give private enterprise a key role.
The wave of resource nationalism has sparked some talk among officials of a possible OPEC-style lithium cartel in the region, although analysts see this as unrealistic given the industry’s diverse models and levels of development.
Meanwhile, Argentina faces challenges including economic turbulence with high inflation and capital controls complicating business, while the country heads into general elections in October, creating political uncertainty.
However, its lithium pipeline may keep the sector buzzing and even gain ground on rivals. Overtaking neighboring Chile would be highly unlikely, but some analysts were aiming high.
“Chile today produces and exports much more lithium than Argentina,” said Natacha Izquierdo, an analyst at consultancy ABCEB. “But if the projects we have here today come to fruition, Argentina could overtake us.”
International
Study finds COVID-19 vaccines prevented 2.5 million deaths worldwide
COVID-19 vaccines prevented an estimated 2,533,000 deaths worldwide between 2020 and 2024, according to an international study led by Università Cattolica del Sacro Cuore in Italy and Stanford University in the United States, published in the journal JAMA Health Forum. Researchers calculated that one death was prevented for every 5,400 doses administered.
The analysis also found that the vaccines saved 14.8 million years of life, equivalent to one year of life gained for every 900 doses given.
The study, coordinated by Professor Stefania Boccia, revealed that 82% of the lives saved were people vaccinated before becoming infected with the virus, and 57% of deaths avoided occurred during the Omicron wave. In addition, 90% of the beneficiaries were adults over 60 years old.
“This is the most comprehensive analysis to date, based on global data and fewer assumptions about the evolution of the pandemic,” explained Boccia and researcher Angelo Maria Pezzullo.
International
Trump administration blasts judge’s ruling reinstating TPS for Honduras, Nepal, and Nicaragua
The administration of U.S. President Donald Trump criticized a federal judge’s ruling on Friday that reinstated Temporary Protected Status (TPS) for Honduras, Nepal, and Nicaragua, stressing that the immigration program was never intended to serve as a “de facto asylum system.”
On Thursday, Judge Trina Thompson extended protections for about 7,000 Nepalese immigrants, whose TPS was set to expire on August 5. The ruling also impacts roughly 51,000 Hondurans and nearly 3,000 Nicaraguans, whose TPS protections were scheduled to end on September 8.
Immigrants covered by TPS had sued the Department of Homeland Security (DHS), alleging that the program’s termination was driven by “racial animus” and stripped them of protection from deportation.
DHS Deputy Undersecretary Tricia McLaughlin issued a statement saying the decision to end TPS was part of a mandate to “restore the integrity” of the immigration system and return the program to its original purpose.
“TPS was never conceived as a de facto asylum system; however, that is how previous administrations have used it for decades,” McLaughlin emphasized.
She also criticized Judge Thompson, calling the ruling “another example” of judges “stirring up claims of racism to distract from the facts.”
McLaughlin added that DHS would appeal the decision and take the legal battle to higher courts.
The Trump administration has also terminated TPS protections for approximately 160,000 Ukrainians, 350,000 Venezuelans, and at least half a million Haitians, among other immigrant groups.
International
Trump to build $200M ballroom at the White House by 2028
The U.S. government under President Donald Trump announced on Thursday that it will begin construction in September on a new 8,000-square-meter ballroom at the White House.
The announcement was made by Karoline Leavitt, the administration’s press secretary, during a briefing in which she explained that the expansion responds to the need for a larger venue to host “major events.”
“Other presidents have long wished for a space capable of accommodating large gatherings within the White House complex… President Trump has committed to solving this issue,” Leavitt told reporters.
The project is estimated to cost $200 million, fully funded through donations from Trump himself and other “patriots,” according to a government statement. Construction is scheduled to begin in September and is expected to be completed before Trump’s term ends in 2028.
The Clark Construction Group, a Virginia-based company known for projects such as the Capital One Arena and L’Enfant Plaza in Washington, D.C., has been selected to lead the project.
The new ballroom will be built on the East Wing of the White House, expanding the iconic residence with a space designed for state dinners, official ceremonies, and large-scale events.
Study finds COVID-19 vaccines prevented 2.5 million deaths worldwide
Trump administration blasts judge’s ruling reinstating TPS for Honduras, Nepal, and Nicaragua
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