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The Olaroz salt flat, in northwestern Argentina, hosts reserves estimated at 6.4 million tons of lithium carbonate.China’s latest investments in South America’s lithium triangle show the challenges for US efforts to counter the dominance of the world’s second-largest economy in key parts of battery metal supply chains.that gives Tsingshan Holding Group preferential lithium prices for a project to make value-added products in the South American nation.
The race to unearth more South American lithium is throwing open a new front in the global tug of war between China and the US. Washington is pushing EV makers globally to produce more vehicles in North America and secure the key minerals for them outside of the world’s second-biggest economy. But while Chile and Argentina are keen to participate, they continue to woo Chinese investors.
Chile entered into a similar arrangement with Chinese EV juggernaut BYD Co. in April. Additional lithium offtake — from Albemarle Corp.’s mine in Chile — will become available next year.in Argentina as it completes construction of a mine there. Argentina authorities are drawing up a proposal to implement a similar incentive program to the one used in Chile, where producers set aside a portion of output for local value-added projects.
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