Three countries in South America may establish 'OPEC of lithium_industry'

Recently, sources from the Argentine Ministry of Foreign Affairs disclosed to the Spanish news agency Effie that Argentina, Bolivia and Chile are working to promote the establishment of the "lithium triangle OPEC" similar to the Organization of Petroleum Exporting Countries (OPEC), so as to reach a "price agreement" in the event of lithium price fluctuations. The source said that due to frequent fluctuations in the price of lithium ore, its future price is highly uncertain. The foreign ministers of the three countries are preparing for this.

OPEC is a cartel alliance of oil producing countries, which affects the price of each barrel of oil by controlling the level of oil production. With the same idea, the foreign ministers of the three South American countries hope that the three countries can reach an agreement on the price and coordinated production of lithium ore, and formulate guidelines for the sustainable development of the industry and the development of related technologies. In addition, the Foreign Ministers also believed that if Argentina, Chile and Bolivia reached consensus first, the future organization could also absorb the participation of major lithium producing countries in the world, such as Australia.

It is understood that the lithium mineral resources of Argentina, Bolivia and Chile account for nearly 65% of the world's proven lithium reserves. The lithium mineral resources of the three countries in South America are dominated by salt lakes, most of which are low magnesium lithium ratio salt lakes.