Over the past decade, Argentina has plowed millions of dollars into the country’s giant lithium deposits with little to show for its efforts. To wit, no new mines have come online in the Central American nation for nearly a decade. Argentina is the world's fourth-largest lithium producer, and together with Chile and Bolivia, forms part of South America's so-called “lithium triangle”.
Lithium carbonate prices dipped below CNY 92,000 $12,650 per tonne in July, its lowest since 2021, as the surplus of raw materials for electric vehicle battery manufacturers continues to depress prices. Over the past few years, lithium producers have rapidly expanded capacity and continued to hunt for new reserves, magnifying expectations of oversupply amid the fallout of battery gluts thanks to government subsidies.
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