Thursday, July 13, 2017

Lithium boom and opening attracts transnational mining companies

The arrival of Mauricio Macri to the government in 2015 unleashed the second lithium boom in the country. The elimination of withholdings on mining and the annulment of the foreign exchange block opened the game to the large transnational companies interested in exploiting the so-called "white oil" in Argentina, which together with Bolivia and Chile make up one of the largest lithium reservoirs worldwide.

The "mini Davos" meetings organized by the government were one of the showcases to attract investment, but not the only one. Lithium was the focus of the "Argentina Summit 2017" meeting organized by The Economist newspaper in March -owned by Rothschild Banking Group, one of the main investors in the most important mining companies dedicated to the extraction of lithium. And previously, the governor of Jujuy and allied to the national government, Gerardo Morales, was the great impeller so that in November 2016 the III International Congress of the Lithium was held in the province, the first one made in the country.

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