Argentina Lithium Export Tax

President macri has made a statement that the country will impose a new temporary tax of.

Argentina lithium export tax.

An export tax on the sector along with other commodity exports could be expected to dramatically slow the country s forecast growth in lithium production. Australia produces around 18 700 tonnes year t y followed by chile with 14 100 t y and argentina some way behind with 5 500 t y. The export tax amounts to an 8 per cent duty on sales. Argentina s main exports include animal feed cereals motor vehicles and parts petroleum and gas and soybeans.

Prospects for global lithium demand and prices are encouraging. Argentina is a competitor to the wa hard rock producers from brine based operations. Australian lithium companies operating in argentina are facing an unexpected 8 per cent tariff on export revenue after the embattled argentine government said it would impose an export tax to. The company is focused on its flagship rincon lithium project potentially a game changing proposition.

The government office that registers grains exports will be closed on monday while the new tax structure is put in place. At present australia is the world s largest lithium producer followed by chile and then argentina in the number three slot. Based on greenfield projects in development argentina s annual production could more than double to. 3 corn and soybean exporter and top supplier.

Not only is there an abundance of trade opportunities in argentina but there are also numerous benefits for businesses. Australian lithium producers could receive a boost over some south american rivals after the argentinian government flagged plans to impose a new tax on exports. By 2020 it should be expected that argentina s lithium export could amount to 80 000 t lce. This placed a tax levied in ars for every us dollar of export value on a suite of products including lithium.

Argentina s top four export partners are brazil the eu the us and china. Lithium project in salta province argentina.