Sigma Lithium CEO Warns of Potential Investments Affected by the Creation of the "Lithium OPEC" in South America

Sigma Lithium CEO Warns of Potential Investments Affected by the Creation of the “Lithium OPEC” in South America

Written by Bruno Teles

Published on 08/03/2023 at 13:30

Líderes do Brasil e Argentina – OPEP de Lítio (foto/divulgação)

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Creating A Lithium Cartel In South America May Drive Away Investments, Warns Ana Cristina Cabral-Gardner, CEO Of Sigma Lithium Resources.

Currently, Argentina, Bolivia, Brazil, and Chile are evaluating the possibility of creating a group to expand lithium processing capacity in the region, aiming to transform a larger amount into batteries and enter the electric vehicle manufacturing.

However, Cabral-Gardner warns that this initiative could be detrimental to the countries involved, as lithium is an abundant mineral, and in similar past initiatives, there were strategic mistakes that were very costly.

Furthermore, the CEO of Sigma Lithium Resources emphasizes that taxes on cobalt and lithium in Congo and Chile are an example that the creation of a cartel may drive away investments and be harmful to the countries. According to her, there is a lot of capital available to invest in lithium, and any exclusive initiative may penalize the involved countries.

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Sigma Lithium CEO Warns of Potential Investments Affected by the Creation of the “Lithium OPEC” in South America

Creating A Lithium Cartel In South America May Drive Away Investments, Warns Ana Cristina Cabral-Gardner, CEO Of Sigma Lithium Resources.

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Sigma Lithium CEO Warns of Potential Investments Affected by the Creation of the “Lithium OPEC” in South America

Creating A Lithium Cartel In South America May Drive Away Investments, Warns Ana Cristina Cabral-Gardner, CEO Of Sigma Lithium Resources.

While an average building in London or New York takes three years to be completed, in China a 26-story tower went up in five days with about 100 workers, and the global modular construction market already moves US$ 95 billion per year.

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