Anglo-Australian mining company Rio Tinto has confirmed the purchase of Arcadium Lithium for USD 6.7 billion , consolidating its business in the global lithium market, Infobae reported.
The announcement was made last Wednesday, after the boards of directors of both companies approved the transaction. “The purchase of Arcadium is considered a strategic step for Rio Tinto, especially in the context of the growing demand for minerals critical to the global energy transition. The definition of the operation was closely followed by the sector at a global and local level, and the conclusion is for an amount that more than doubles the valuation estimates,” said the same media .
The news came after the government of Javier Milei sent a delegation headed by the Secretary of Mining of the Nation , Luis Lucero , to participate in the latest edition of the “London Metal Exchange Week 2024” (LME) .
As we reported in Agenda Malvinas , Lucero was “accompanied by five governors of the “dialoguing” opposition who “make up both the Lithium and Copper Roundtables: Carlos Sadir, from Jujuy; Gustavo Sáenz, from Salta; Raúl Jalil, from Catamarca; Marcelo Orrego, from San Juan; and Alfredo Cornejo, from Mendoza. The province of Río Negro was also part of the delegation, represented by its Minister of Production, Andrea Polizzi.”
Rio Tinto CEO Jakob Stausholm said the acquisition strengthens the company’s ability to lead in the production of materials essential to the energy transition. “This acquisition creates a world-class lithium business alongside our aluminium and copper operations,” Stausholm said, noting that lithium will be a key component for battery supply in the coming years.
For our country, this purchase is significant, since Arcadium Lithium is a strategic player in the development of the exploitation of Argentine lithium. It currently operates two of the four active projects that produce lithium carbonate in Argentina : the Olaroz project in Jujuy and the Fénix project in Catamarca. These assets represent a significant portion of the country's productive capacity, which has tripled in the last two years, according to data from the Argentine Chamber of Mining Companies (CAEM) .
Argentina has the world's fourth largest reserves of lithium carbonate, which is why it has become a delicious and appetizing morsel for the big octopuses that play in the global lithium market. With the acquisition of Arcadium , the Anglo-Australian Rio Tinto secures the raw material and the participation in a sector that has been experiencing an enormous growth due to the growing demand for electric vehicles and the need to store renewable energy.
With the purchase of Arcadium , Rio Tinto strengthens its position in Argentina, but also gains access to mines and plants in strategic countries such as Australia, Canada and the United States. In addition, as Infobae highlights, “Arcadium has a solid customer base that includes giants such as Tesla, BMW and General Motors, which places Rio Tinto in a privileged position to capitalize on the growing demand for electric vehicles and batteries.”
The delivery: the only state policy of Alberto Fernández and Javier Milei
Unlike Chile and Bolivia, where lithium was declared as strategic reserves of both nations, the delivery of this mineral by Javier Milei to Great Britain is a continuation of the policy carried out by the government of Alberto Fernández, associated with permanent non-compliance with relation to the defense of the sovereignty of the Malvinas Islands.
In July 2022, Fernández met with the British Prime Minister, Boris Johnson , in the German city of Bonn and, according to what was reported to the press at that time through the now-defunct Telam, the former Argentine president proposed to his British counterpart that until there was dialogue on the Malvinas Question, there would be no trade between Argentina and the United Kingdom . But, days later, the British ambassador to Argentina, Kirsty Hayes , toured the provinces, disregarding what had been the president's statements, as well as the provisions that are supposed to be state policies on the matter.
Clearly, this policy of submission to British colonialism remains a constant of recent governments. And it takes a new direction with the trip to London that Luis Lucero , current Secretary of Mining of the government of Javier Milei , made together with the governors and representatives of the provinces of Jujuy , Salta , Catamarca , San Juan , Mendoza and Río Negro , opening the game to British mining companies. It is no coincidence that a week after the trip to London , the Rio Tinto mining company ends up keeping Arcadium in Argentina.
As we pointed out in Agenda Malvinas , the Governor of Mendoza, Alfredo Cornejo, and the Minister of Energy and Environment, Jimena Latorre , met at the London Metal Exchange Week 2024 (LME Week) , with representatives of leading companies in the sector, particularly in copper production. These are the companies Broken Hill Proprietary's (BHP) of Australia and the National Copper Corporation of Chile (Codelco).
In early August, the Tierra Viva news agency reported that “the mining corporations BHP and Lundin announced their association to jointly exploit the Filo del Sol and Josemaría projects, both in San Juan.” Environmental disasters, deaths, violence and labor lawsuits are part of the history of the mining companies BHP and Lundin Mining , the multinationals that announced their merger to exploit both projects in San Juan. The two mining companies have accumulated complaints and convictions in Chile, Brazil, Africa and Australia. Without going any further, “BHP was responsible for the mining disaster in Minas Gerais, with 19 deaths and hundreds of houses destroyed,” Tierra Viva noted.
We can say that mega-mining is indeed a State policy , both for the different national administrations and for the governments of the provinces of Jujuy, Salta, Catamarca, San Juan, Mendoza and Río Negro . Their leaders have generally given clear signs and signals of having always been aligned with the interests of the large multinational companies in the sector. Much more so if these are British or from a country that is part of the Commonwealth.
It is a real act against the sovereign interests of the Nation that the rulers and officials , whether national or provincial , do not have the same zeal and determination to support our claims on the Malvinas and islands of the South Atlantic, nor do they support a strong policy against the interests of the British invading enemy. On the contrary, they are always happy to show themselves servile and complacent with the enemy against the interests of the people and the country .
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