Multiple miners raise stakes on Argentine lithium mining while the President places bet on radical economic reforms

Multiple lithium miners have confirmed future plans in Argentina at the end of 2023. On December 21, Galan Lithium confirms that the installation of the first pond in its Hombre Muerto West lithium brine project is on track, and the project is scheduled for maiden production in the first half of 2025. French company Eramet has announced a US$800 million investment in lithium mining in Argentina’s Salta province. This was unveiled during the visit of Argentine Foreign Minister Diana Mondino to France last week and is seen as a response to the reform plans initiated by Argentine President Javier Milei.
This week, Milei has raised specific actions toward economic deregulation, including the amendment or elimination of various rules regarding labor laws, privatizing state-owned enterprises alongside removing restrictions on exports. He particularly highlighted the potential of the lithium industry, echoing his comments in a recent television interview where he mentioned that Elon Musk, the US government and companies were “extremely interested in lithium”. However, these measures have already induced online criticism, protests and are poised to face potential opposition within the Congress and from Argentine provincial authorities.