Lithium production in Argentina will grow six times more than in Chile and three times more than in Australia by 2027, according to a report from the Rosario Stock Exchange (RSE). The report also stated that Argentina has a “golden opportunity” to generate investments, employment and foreign exchange.

“In a context where lithium production is expected to grow 8% annually in Chile and 16% in Australia by 2027, the average annual increase in Argentina aims to be 50%,” said the report. It also noted that the country’s abundant lithium reserves and resources can place it in a “strategic” position, as it can “save the world exploration time due to its volume and potential for mining developments.”

The survey said that lithium carbonate is the main export of the Argentine lithium complex, highlighting that both lithium carbonate and lithium hydroxide are “essential in battery production.”

“While lithium hydroxide has advantages in terms of battery performance, lithium carbonate has historically had a lower production cost.”

The report also explained that while exploration and development efforts in Australia and Chile make them both key players in global lithium production — concentrating 77% of the world’s lithium supply —, both countries will have lower growth than Argentina in the medium-term due to their “smaller and more uncertain number of projects.”

The report concluded that Argentina has a golden opportunity in the mining sector, particularly in lithium, which is experiencing “explosive growth worldwide.”

“Its wealth in lithium reserves and resources, as well as its commitment to sustainable production, make it a crucial player in the global market for batteries. Furthermore, the mining sector as a whole is contributing significantly to economic growth and employment in Argentina.”

With information by Télam