According to a letter of intent signed by William Petty, chief executive of Franklin Mining, Nevada-based Franklin Mining will work with a lithium mine in northern Argentina.
"We are pleased to sign this contract because it will provide another piece of rare earth for Franklin's future and development," Patty said. "
Franklin executives will travel to mines in northern Argentina next month to conduct due diligence and plan mine development.
Franklin Mining points out that global demand for lithium is likely to triple over the next 15 years because of increased interest in hybrid cars and electronics.
The company operates several mining projects in Latin America. Franklin owns the La Joya gold project currently in production and Guanay-Tipuani gold assets, both of which are located in Bolivia.
In Peru, Franklin is developing the Madre de Dios area and the Ch-mine gold project.
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