Hyperdrive
High Risk-High Reward Lithium Bet Drives Argentina Mining Surge
- Mineral’s rising price sees global miners seeking expansion
- Neighbor Chile more economically stable; also more restrictive
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High risk/high reward. That’s the bet being made by global lithium miners in Argentina who are brushing aside a recession, a currency crisis and political uncertainty in their hunger for the mineral that helps power electric cars.
Rising demand and limited supply have resulted in lithium prices tripling over four years. In response, companies have been scrambling to build new mines, putting Argentina and Chile, two of the world’s largest producers of the mineral, squarely in their sights.