International

Argentina’s lithium pipeline promises “white gold” boom as Chile tightens control

Photo: Reuters

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.

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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.

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“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.

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“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

President Boric announces curfew following triple police homicide in Chile

Chile offers residency and Chilean nationality to Nicaraguan opponents

Chilean President Gabriel Boric has implemented a nighttime curfew in three municipalities of the Biobío region following the murder of three police officers. The Chilean leader emphasized that “criminals will answer to Chile and its justice system.”

In a post on X, formerly known as Twitter, Boric stated that he made the decision “after discussing with the General Director of the Carabineros, the Chiefs of Staff of the Armed Forces, the Head of National Defense, and the Chief of the Joint Chiefs of Staff, having also considered various alternatives and taking into account the needs of the ongoing investigation.”

He further detailed that “I have instructed to decree a curfew in the municipalities of Cañete, Contulmo, and Tirúa from midnight to 7:00 AM. Additionally, police and military presence will be intensified to our utmost capacity with joint patrols in the area.”

International

President López Obrador meets with Astros and Rockies ahead of Mexico City Series

Last Friday, before the 2024 Mexico City Series between the Astros and Rockies at Alfredo Harp Helú Stadium in Mexico City, President Andrés Manuel López Obrador met with representatives from both teams.

Through his social media, the President shared his interaction with executives from the Houston and Colorado teams, as well as with Astros’ Mexican pitcher, José Urquidy.

“Yesterday (Friday), before starting the tour, I had breakfast with executives and friends from the Houston Astros and the Colorado Rockies. There’s increasingly more baseball fever in our country,” López Obrador wrote.

The photos also featured former Mexican major leaguers Vinicio “Vinny” Castilla and Jorge de la Rosa, both of whom played for the Colorado team.

On Saturday night, the Houston Astros won the first game in the “capital inferno,” home of the Mexico City Red Devils, with a commanding score of 12 to 4.

This Sunday, the second game of the series will take place at AHH, with both teams arriving in Mexico on a losing streak. Another great Major League celebration is anticipated at the “fire diamond.”

International

Social media star Om Fahad fatally shot in Baghdad

An Iraqi TikToker, previously sentenced to prison last year for posting content deemed “indecent” on social media, was fatally shot in Baghdad on Friday, according to two security officials.

Om Fahad, who had tens of thousands of followers on TikTok and Instagram, gained fame for her videos featuring her in tight outfits dancing to Iraqi music, in a country that is predominantly conservative and patriarchal.

The young woman was shot by an assailant on a motorcycle while she was in her vehicle outside her home in central Baghdad, two security officials reported anonymously to AFP.

In February 2023, a court initially sentenced Om Fahad to six months in jail for “publishing various videos with indecent intentions that violate modesty and public morals.”