Argosy Minerals (ASX: AGY)
The share price has fallen back sharply, and I was wondering if this is due to the falling price of lithium, or is there another reason?
I have discovered there are some enviromentalists in Argentina causing issues for lithium producers, includig the majors, in Salta and Jujuy provinces.
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| Argosy Minerals | ASX: AGY |
| Stage | Production |
| Metals | Lithium (77.5% of the project) |
| Market cap | A$624 m @ 44.5 c |
| Location | Salta, Argentina, Nevada, USA |
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Argosy Minerals Shareprice falling on Falling Lithium Price and Political Concerns in Argentina.
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Argosy Minerals (ASX: AGY) share price has fallen back sharply, and I was wondering if this is due to the falling price of lithium, or is there another reason?
I have discovered there are some enviromentalists in Argentina causing issues for lithium producers, includig the majors, in Salta and Jujuy provinces.
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The excellent Bnamericas website reports;
“Argentina’s supreme court ordered the national government and the provinces of Salta and Jujuy to report within 30 days if the current projects for the extraction of lithium and borate are affecting water and the environment.
The ruling involves Lake Resources, Ganfeng Lithium, Posco, Rio Tinto and Argosy Minerals, among others.”
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To read the full article, click HERE
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This is very concerning because until now Argentina was considered a safe jurisdiction for lithium production, with the country seemingly keen on becoming a major producer with all the economic benefits that would bring.
The one slightly reassuring factor is that with Ganfeg, POSCO, and Rio Tinto on the list of potentially impacted companies, Argosy have some powerful friends with signiciant clout.
My fear is if the may Argentinians pick on a couple of the small players to try and appease those causing the unrest, and allow the majors with all their political influence off the hook.
I hope I’m wrong because Argentina, along with both Bolivia and Brazil, looked to be becoming a top mining jurisdiction, with Chile, Ecuador, and Peru slipping downwards due to political issues in those countries.
I will be keeping a close eye on the situation in Argentina, it looks as though this is going to happen very quickly now, with a 30 day time limit running.
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Disclosure
At the time of writing, the author holds shares in Argosy Minerals.
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