MercoPress. South Atlantic News Agency

“Lithium ABC countries” working on common pricing policies

The ABC countries account for 65 % of the world's lithium

South America's “ABC” lithium-producing countries Argentina, Bolivia, and Chile are considering joint policies to set the sale price of the mineral, Télam reported Thursday.

The so-called “Lithium Triangle” nations are evaluating an initiative to advance “pricing and good practices in international production that contribute to boosting the productive framework” which would entail the creation of some sort of OPEC (Organization of Petroleum Exporting Countries) for lithium.

Negotiations are well underway and further talks will be held during the 39th Economic Commission for Latin America and the Caribbean (ECLAC) in Buenos Aires from October 24 to 26.

Argentina is reportedly the fourth-largest global lithium producer with high levels of activity northwestern provinces of Catamarca, Jujuy, and Salta. The region is believed to be the world's second-largest reserve of this mineral.

Argentine lithium exports went up 171% yoy amid a global price increase.

OPEC sets production levels to influence the price of a barrel of crude oil, which would serve as a model for a similar mechanism between Argentina, Bolivia, and Chile in the case of lithium, it was explained. The ABC countries account for 65 % of the world's lithium.