Argentina and Chile

Argentina forecast to reach Chile’s lithium output by 2030

Bnamericas Published: Wednesday, January 05, 2022

Chile’s copper commission Cochilco forecast that by the end of the decade Argentina will reach Chile’s lithium carbonate equivalent (LCE) production of 238,000t, while the latter’s global market share is expected to fall to 15% from 32%. 

In a report, the agency predicted that global demand for LCE will reach 2.1Mt in 2030 from 327,000t in 2020 due to increased demand for batteries for electric vehicles. 

“We anticipate that the electric vehicle segment will go from representing 41% of lithium consumption in 2020 to 73% in 2030,” the report reads. 

According to Cochilco, by 2027 global lithium supply will not be enough to meet demand. 

Earlier this week, mining and energy minister, Juan Carlos Jobet, said that Chile's lithium market share is in danger of falling 46% to 17% if there are no new projects by 2030.

However, Cochilco says that more transparency regarding market prices will contribute to boosting new projects. 

“It is foreseeable that stock exchanges and the lithium industry will continue to go forward and make contract prices visible as well as agreeing instruments that allow price monitoring backed by a greater volume of transactions,” the report says. 

“This greater transparency can encourage more investment to carry out projects.”

Cochilco says Australia, which is the main global producer, is expected to produce 415,000t in 2030, up from 174,000t in 2020. The report also highlights that Canada, the Democratic Republic of the Congo, Mali and Mexico will become important producers by the end of the decade. 

By then, LCE will account for 44% of total lithium demand, down from 67% in 2020, while lithium hydroxide’s share will increase to 56% from 28%, the report says.

Subscribe to the most trusted business intelligence platform in Latin America. Let us show you our solutions for Suppliers, Contractors, Operators, Government, Legal, Financial and Insurance.

Subscribe to Latin America’s most trusted business intelligence platform.

Other projects in: Mining & Metals (Chile)

Get critical information about thousands of Mining & Metals projects in Latin America: what stages they're in, capex, related companies, contacts and more.

Other companies in: Mining & Metals (Chile)

Get critical information about thousands of Mining & Metals companies in Latin America: their projects, contacts, shareholders, related news and more.

  • Company: Minera Spence S.A.
  • Minera Spence is engaged in the production of copper cathodes through an open pit operation in northern Chile's Sierra Gorda municipality, Antofagasta region (II). Its high puri...
  • Company: BHP - Minerals Americas
  • Minerals Americas is the direct mining subsidiary of Australia-based BHP. It was incorporated in 2016 as part of BHP's new operational model that groups its operations in three ...
  • Company: Ausenco Chile Ltda.  (Ausenco Chile)
  • Ausenco Chile Ltda. Is a subsidiary of the Australian firm Ausenco, which provides process infrastructure and engineering solutions in Chile since 1995. Based Santiago, Ausenco ...
  • Company: Norte Abierto SpA  (Norte Abierto)
  • Norte Abierto SpA, based in Santiago de Chile, is a under a 50% risk-sharing entity between Goldcorp and Barrick. The company was formed after a series of acquisitions by the Ca...