The government of Javier Milei has awakened expectations in the national and provincial lithium industry. Pablo Rutigliano, president of the Latin American Lithium Chamber, expressed his concern about the lack of progress in treating lithium as a commodity. During a meeting with the mining secretary Luis Lucero, Rutigliano highlighted a legal case for irregularities in billing and advocated for prices that reflect the region's reserves.
Bolivia, Argentina, and Chile control 64% of the world's lithium reserves. Pablo Rutigliano emphasized the efforts made since 2020 to position lithium as a commodity, fighting against underbilling that directly impacts the economies of producing countries.
Mining executives warned about monopolistic practices in the lithium industry, especially after the acquisition of Arcadium Lithium by Rio Tinto for 6.7 billion dollars. This operation includes key projects in Argentina, positioning Rio Tinto as one of the largest lithium producers in the world.
In the context of a liberal government, Rutigliano underscored the importance of avoiding monopolies and promoting competition in the mining market. The criminal complaint for underbilling during the previous administration highlights the need for a transparent and competitive industry that benefits the national economy.
To strengthen the industry and prevent fraudulent practices, business leaders advocate for the creation of an independent regional capital market. This initiative aims to ensure transparency, local price fixing, and fairness in the trade of strategic resources like lithium, avoiding revenue losses and monopolies.
