Argentina is promoting the idea of an OPEC-like cartel for itself, Bolivia and Chile, which together control 85% of the world's reserves of lithium, a key component in electric car batteries.
Canadian miner Lithium Americas Corp said it plans to start building a lithium carbonate facility next year at its Cauchuri project in the Argentine province of Jujuy. The plant with a total capacity of 40,000 tons per annum is expected to start adding to the company's revenue in 2014, Lithium Americas said in a statement.