LatAm Briefs: Argentina Lithium Acquisition, Citgo Challenges

(Energy Analytics Institute, 13.Sep.2021) — Energy briefs from the Latin America and Caribbean region including: Argentina Lithium & Energy Corp. acquiring high quality lithium projects, Citgo Petroleum executives warning of threats from biofuels amid the energy transition, and much more.

LATIN AMERICA AND CARIBBEAN

Argentina

— The Center for International Strategic Studies considered Argentina to be the “most promising country for the expansion of the lithium industry,” while it said Chile and Bolivia were more restrictive to private participation, the daily El Diario reported on 13 September 2021.

Argentina Lithium & Energy Corp. (TSXV: LIT) (FSE: OAY3) (OTC: PNXLF), focused on acquiring high quality lithium projects in Argentina, granted 225,000 incentive stock options to co. officers. The options are set for a period of five years, expiring on 3 Sep. 2026, the co. announced 3 Sep. in an official statement. Each option will allow the holder to purchase a co. common share for $0.18. The options are subject to a four month hold period from the date of grant and to TSX Venture Exchange approval.

Argentina Lithium & Energy Corp. engaged Mr. Miles Rideout as its new Vice President of Exploration, the co. announced 30 Aug. 2021 in an official statement. Rideout has 34 years of experience in advanced exploration practice, responsible business management, scientific team building, and mining integration with local communities and indigenous peoples.  Rideout holds a B.Sc. with Honors Certificate in Geophysics, from the University of Western Ontario (1987). He is fluent in English and Spanish and has lived in Mendoza, Argentina for more than 20 years.

Bolivia

— Bolivia’s Minister of Hydrocarbons and Energies Franklin Molina announced that in coordination with state owned Yacimientos Petrolifos Fiscales Bolivianos (YPFB) that the two entities would conduct a technical study regarding installation of a new industrial fertilizer plant, reported La Razon on 7 September 2021. The size and location have yet to be determined.

Colombia

— Colombia’s Ministry of Mines and Energy reported on 11 Sep. 2021 that fuel prices will rise across the country due to “the price of crude oil in international markets, reported El Espectador on 11 Sep.

Empresas Públicas de Medellín (EPM) said at least 10 cos. will visit the Hidroituango hydroelectric project on 14 Sep. 2021 to be considered as possible contractors to eventually continue with the works at the project, reported El Espectador on 13 Sep. 2021.

— Global prices for solar panels have risen 16% this year, largely due to rising costs for polysilicon and silver, El Espectador reported on 10 Sep. 2021, citing a report from Rystad Energy. Pandemic-related restrictions have led to skyrocketing costs of some key raw materials. Rising solar panel costs threaten to delay the transition to clean energy needed to slow climate change, Rystad said

Ecuador

Solaris Resources Inc. (TSX: SLS) (OTCQB: SLSSF) reported the latest assay results from ongoing resource expansion drilling at its Warintza Project in southeastern Ecuador. The co. said three additional holes at Warintza Central have infilled gaps within the drilling pattern and extended the envelope of high-grade mineralization to the east, with high-grade mineralization encountered in all holes starting at or near surface: 1) SLS-27 was collared in the southwestern part of Warintza Central, 2) SLS-28 was collared in the middle of Warintza Central, and 3) SLS-29 was collared at the southeastern limit of the Warintza Central grid, the co. said 7 Sep. 2021 in an official statement.

NORTH AMERICA

Canada

SSR Mining Inc. (NASDAQ: SSRM) (TSX: SSRM) (ASX: SSR) reported positive results from 127 drill holes for its Seabee mine and adjacent targets in Saskatchewan, Canada. The Santoy Mine is the current production feed for the Seabee processing plant, connected by a 15km haul road, SSR Mining said 13 Sep. 2021 in an official statement.

United States

— Executives with Citgo have warned during 2021 on different occasions that one of numerous challenges it faces relates to growing demand for biofuels amid the energy transition.

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By Ian Silverman, Aaron Simonsky and Jared Yamin. © Energy Analytics Institute (EAI). All Rights Reserved.