• 27/02/2024 15:08

Argentine President Miley announced Musk's interest in Argentine lithium

Elon Musk became interested in lithium deposits in Argentina. This was stated by the new president of the country, Javier Miley, on the air of the local TV channel Canal 13. A recording of the program was published on the channel’s website.

Argentine President Miley announced Musk's interest in Argentine lithium

►Read the Ministry of Finance’s Facebook page: main financial news

According to Miley, Musk declared his interest in a telephone conversation with him.

In addition, in Argentina “The US government and American companies are interested in lithium,” the president said. He added that he intends to create a legal framework so that “they can make money” by investing in the Argentine economy.

Previously, Miley promised to deregulate satellite Internet services in Argentina in order to “allow companies like Starlink to come to the country,” La Nacion reports. Starlink is a division of the space company SpaceX founded by Musk, which specializes in satellite Internet.

Lithium is also used in the production of batteries for electric vehicles.

Musk's interest

Last year, Musk said that the Tesla company he heads could independently mine lithium, the cost of which has reached “crazy levels.”

“There is no shortage of the element itself, lithium [can be found] almost anywhere on Earth, but the rate of production/processing is low,” Musk noted.

In July 2022, the businessman wrote on his page on the social network X (former Twitter) that lithium batteries are the “new oil.” In the spring, construction began in Texas on a new Tesla lithium processing plant, which should be operational in mid-2024. The company plans to invest $375 million in the construction.

Argentina is the fourth largest lithium producer in the world and, together with Chile and Bolivia, is located in the so-called “lithium triangle,” where more than half of the world’s reserves of the metal are located, Reuters wrote.< /p>

At the end of November, libertarian Javier Miley won the presidential elections in Argentina based on the results of the second round. During the election campaign, he promised to carry out unprecedented reforms in the country, including cutting social spending, eliminating the central bank, banning abortion, dollarizing the economy, maximizing rapprochement with the United States and severing relations with Brazil and China.


Leave a Reply