US and Argentina announce corridor for critical minerals exports — Mongabay

The United States and Argentina have announced the Andean-Atlantic Corridor, which is intended to facilitate US investment in Argentina’s mining industry and exports of critical minerals, including copper and lithium. The initiative was announced on September 23, Mongabay reports.

In a joint statement, the countries said they seek to develop bilateral relations through increased US investment, close security cooperation and shared values. At the same time, the initiative provides for the further development of the Vaca Muerta region, which holds Argentina’s largest oil and gas reserves.

Copper, lithium and infrastructure

Argentina has around 117.91 million metric tons of copper reserves and 216.32 million metric tons of lithium carbonate equivalent — a compound used in lithium-ion batteries. These resources are needed, among other things, for the production of cables and transformers for power grids, wind turbines and solar panels.

The country is also part of the so-called Lithium Triangle together with Chile and Bolivia. Salt flats covering an area of approximately 400,000 square kilometers contain between 40% and 60% of the world’s lithium.

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Within the corridor, the governments plan to reduce transport and energy constraints between mining areas and ports on the Atlantic coast and the Hidrovía waterway. About 80% of Argentine exports pass through this river system via Paraguay.

Funding through 2027

In June, Argentina granted the Belgian-Argentine consortium Vía Navegable Troncal a 25-year concession to optimize river trade routes. According to the United States, the concession is expected to attract $10 billion in investment, reduce transportation costs and increase trade flows.

A separate agreement between Argentina and the Export-Import Bank of the United States provides for mobilizing up to $7 billion for mining, energy and other sectors through 2027. Energy cooperation also includes US technologies, investments, direct loans and other financial instruments to accelerate capital raising and equipment supplies.