Argentina Lithium Export Tax

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. Mauricio macri taxes argentina s exports cuts ministries as peso plummets maximilian heath and luc cohen updated sep 4 2018 7 37am first published at 6 02am. At present australia is the world s largest lithium producer followed by chile and then argentina in the number three slot.

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Not only is there an abundance of trade opportunities in argentina but there are also numerous benefits for businesses.

Argentina lithium export tax.

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. Argentina s main exports include animal feed cereals motor vehicles and parts petroleum and gas and soybeans. President macri has made a statement that the country will impose a new temporary tax of. 3 corn and soybean exporter and top supplier.

The company is focused on its flagship rincon lithium project potentially a game changing proposition. This placed a tax levied in ars for every us dollar of export value on a suite of products including lithium. By 2020 it should be expected that argentina s lithium export could amount to 80 000 t lce. Lithium project in salta province argentina.

Argentina s top four export partners are brazil the eu the us and china. Prospects for global lithium demand and prices are encouraging. Argentina is the world s no. The export tax amounts to an 8 per cent duty on sales.

Argentina is a competitor to the wa hard rock producers from brine based operations. Based on greenfield projects in development argentina s annual production could more than double to. In practice the duty applies a levy of 3 or 4 ars dependent on product for every us dollar value of exports on an fob basis and was originally expected to be removed by 31 december 2020. The government office that registers grains exports will be closed on monday while the new tax structure is put in place.

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.