Based in the Argentinian capital city of Buenos Aires, L.T. Extraction works is a mining company specializing in the extraction of metals, principally lithium, for supply to the global market. We operate several large-scale, highly productive mines in the South American countries and around the region, allowing us to deliver consistent supplies to global clients, industries and businesses.
We have a diverse portfolio of projects, prospects and assets around the country, but have significantly shifted our focus in recent years to the mining of lithium due to the considerable increase in demand over the past few decades and the huge reserves of the metal in Argentina.
Since 2016, L.T. Extraction works has been operating successful lithium mines in Argentina and Chile, which together with Bolivia make up the so-called Lithium Triangle, an area that is home to around 70% of the world’s lithium reserves. This has given L.T. Extraction works a huge geographical advantage over competitors in other regions, and we have fully capitalized by establishing sustainable operations and far-reaching supply lines from extraction to market, from mining to distribution.
With our extensive mining experience, organized infrastructure, efficient distribution network and professional experts throughout our operations and supply chain, L.T. Extraction works has positioned itself at the forefront of the lithium mining industry. We have undergone rapid expansion into new markets in recent years, taking advantage of rising demand for lithium and our geographic location, with globalization facilitating our growth and connections.
With new regional projects slated to come online over the next five years and with a solid base on which to build on, L.T. Extraction works envisions continued success and growth in the future as we endeavor to lead the industry through the sustainable supply of lithium to clients around the world.
We are committed to economical extraction while meeting the ever growing demand for lithium
Currently, Argentina is home to the third-largest reserves of lithium, with an estimated 45% to 50% of the reserves, importantly, economically extractable
COVID19 and the effects on Mining
Using data provided to L.T. Extraction works by both our own and out sourced analytics we have an updated report with Impact of COVID-19, The report provides a comprehensive analysis of the global lithium industry. It provides historical and forecast data and analysis of lithium production and consumption, including a breakdown by country, and analysis of demand drivers, including electric vehicle battery production and EV sales and policies governing electric vehicles across all key markets. Finally, this report includes the leading companies with production by company, profiles of major lithium producers and information on their major active, planned and exploration projects.
Our final conclusion, After increasing for three consecutive years, global lithium production decreased steeply in 2019 to 78.2kt and is expected to fall by a significant 24.8% in 2020 to 58.8kt. This is due to both declining prices for lithium, which have led to miners putting mines on care and maintenance, and the temporary closure of lithium mines due to lockdowns imposed as a result of the COVID-19 pandemic. In 2020, the global lithium demand and supply gap narrowed to 11.6kt, as additional capacities, mainly in Australia, are postponed, before further widening to about 28.6kt in 2023, as these delayed capacities pick up pace gradually as we enter 2022. As a result L.T. Extraction works anticipates substantial growth in lithium production until 2024 and beyond as production markets and economies stabilize.
New mines and capacity expansions will boost global production to 134.7kt in 2024. The majority of this growth will originate from Australia, which is going to maintain its current position with the existing mines ramping up production such as Mount Cattlin and Pilgangoora. Additionally, the expansion of Greenbushes Lithium Operations as well as the resumption of Wodgina, which are both expected to materialize by 2023, This will further boost the global output during the forecast period. Other key existing projects include Mount Marion, Salar de Atacama, The Mariana Lake and Salar del Hombre Muerto located in Argentina, Chile and Australia respectively.