Minera Exar has initiated mining operations at Olaroz Cauchari, marking the launch of Argentina’s third lithium project.
This undertaking, following thirteen years of investment, signals a significant economic milestone for Jujuy, a northern province adjacent to Bolivia.
The company plans to produce battery-grade lithium by late 2023 and subsequently start exports. The project employs around 800 staff members and nearly 1,700 contractors.
Franco Mignacco, President of Minera Exar and the Argentine Chamber of Mining Entrepreneurs (Caem), celebrated the project’s initiation, acknowledging it as a significant event for the province and the country.
Furthermore, he highlighted the project’s unique location at 4,000 meters above sea level, making it Argentina’s first such lithium project in eight years.
Mignacco expressed optimism for the project’s future, hoping to reach a production level of 40,000 tons within 18 to 24 months, establishing Jujuy as the nation’s primary producer.
Minera Exar invested a total of US$980 million in the venture.
Mignacco, also serving as Caem’s president, voiced opposition to Argentina’s potential plans to nationalize lithium.
He advocated for policies that favor foreign investment, citing the country’s current state of lithium production.
However, he expressed willingness to negotiate lithium needs with the Argentine government, rejecting notions of introducing quotas or preferential prices.
Lastly, Mignacco underscored Argentina’s standing as the fourth-largest lithium carbonate producer and advocated for its advancement as a major global lithium producer.
He proposed that the country contemplate electromobility’s future, evaluating the roles of electric motors and car parts within this vision.