MOSCOW (Pakistan Point News / Sputnik - 08th December, 2022) The countries of the so-called Lithium Triangle including Argentina, Chile and Bolivia are considering creating an OPEC-style alliance on lithium to preserve their resources and improve their economy, President of Argentina Alberto Fernandez said on Wednesday.
"The idea of the 'OPEC' of lithium that we have ever talked about with President (Luis) Arce of Bolivia and that I proposed to (President of Chile) Gabriel Boric is not for the purpose of extorting the world for the price of lithium. It is basically with the purpose of preserving our resources from that extraction idea that many mining companies have," Fernandez told the Financial Times Global Boardroom conference.
The president added that Argentine provinces were working on ways to add value to lithium produced in Argentina so as to leave the country increasingly industrialized.
Fernandez also commented on a trade agreement between the European Union and Mercosur states that was reached in 2019, but remained to be ratified.
"Neither (Brazil's President) Lula (da Silva) nor I are against an agreement with the EU. But we must keep in mind what the deal looks like. Because that deal has problems and the problems are important, basically, with imbalances of the market, from one market to another," Fernandez said when asked if the EU-Mercosur agreement will be ratified with Lula back in power.
At the same time, the Argentine president said that his country was interested in cooperation with any state or organization as long as it helped the economy, be it China, the US or the EU, regardless of political issues.
According to estimates from the US Geological Survey, Argentina, Chile and Bolivia account for 56% of global lithium reserves, with Argentina and Chile responsible for some 32% of its global production.
