off-the-wire

Argentina Lithium wins local authority approval to kick off exploration push

Kitco Media
By Reuters
Published:
Updated:
Reuters
Argentina Lithium wins local authority approval to kick off exploration push teaser image

Local mining officials in northwest Argentina have approved a two-year permit for Argentina Lithium & Energy Corp to kick off exploration efforts in the Paso de Sico concession, the company said on Thursday.

Argentina is pushing to accelerate investments in lithium, the key battery metal, which is seen as a bright spot for the battered South American economy that could power export growth and boost much-needed foreign currency reserves.

Under the permit approval from the mining and energy secretariat in Argentina’s northwestern Salta province, the company will launch a drilling program to evaluate lithium concentrations in area salt flats, part of the Rincon Oeste project.

It lies next to major miner Rio Tinto’s similar lithium development Proyecto Rincon.

Argentina Lithium & Energy Corp will now be able to better evaluate Rincon Oeste’s potential, its CEO Nikolaos Cacos, said in a statement.

(By Lucila Sigal; Editing by Jan Harvey)

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.