France and Argentina Sign Critical Mineral Agreement

According to a report from the BNAmericas website, Argentine President Milei and French President Macron have agreed to sign a strategic alliance agreement, under which both sides will collaborate to promote financing and investment in critical minerals such as copper and lithium, while also accelerating Argentina's nuclear energy program.

On Monday, the two leaders discussed the agreement during their participation in the United Nations Ocean Conference in Nice, France, which includes scientific cooperation in the delineation of mineral resources.

As part of France's 2030 investment plan, the Macron government intends to invest 500 million euros ($571 million) to enhance industrial resilience against disruptions in the metal supply chain.

Although France needs to import critical minerals for its own energy transition, Argentina can also learn from France's experience in nuclear energy.

Seventy percent of France's electricity consumption comes from nuclear power, but the country plans to reduce this proportion to 50%. Currently, at least six nuclear reactors are planned to be built in the country. According to data from the World Nuclear Association, France already has approximately 60 reactors with a total installed capacity of 63 gigawatts.

In contrast, Argentina has only three nuclear reactors, accounting for just 5% of its electricity production.

However, under Milei's nuclear energy plan, Argentina will expand its nuclear power capacity to meet nationwide electricity demand and reduce power outages.

The nuclear energy plan also includes advancing uranium mining and positioning Argentina as a global leader in the peaceful use of nuclear energy.

A few days ago, Demián Reidel, the Chairman of Milei's Advisory Council and the President of Argentina's National Nuclear Commission, met with leaders of the French Alternative Energies and Atomic Energy Commission (CEA) to discuss in detail how to implement the cooperation plan.