Peru Aims Domestic Production of Lithium Batteries

Peru’s Vice Minister of Mines Chavez said the government is looking to produce lithium batteries domestically, joining other Latin American nations with ambitions to industrialize their resources of the battery metal needed to power electric vehicles (EVs).  “We are already starting to act to see if we can develop a battery industry,” Chavez said at the Perumin mining industry conference.

Peru is the world’s second biggest copper producer and an attractive destination for global miners. It has some lithium deposits in the country’s south, which are currently being explored by Vancouver-based American Lithium.

But those deposits are significantly smaller than those in the so-called Lithium Triangle, made up of Bolivia, Chile and Argentina.

Lithium batteries are critical for meeting the growing demand for EVs, as part of a transition away from combusiton engine vehicles.

“We have a lot of reserves and we think this is an opportunity and a challenge to carry out (lithium) extraction and value-added production,” Chavez said.

Peru currently does not produce any lithium, and no country in South America manufactures lithium batteries at scale, even if they do mine lithium.

Chile and Argentina rank as the world’s No. 2 and No. 4 producers of unrefined lithium, respectively. Bolivia has the world’s largest lithium resources but has for years struggled to mine them at a commercial scale.

Mexico nationalized its lithium resources earlier this year and announced a state lithium mining company but has yet to start lithium production.

Lithium battery production is currently dominated by China.

Need to access the insight?

Start your 7-day free trial now

Need to access the insight?

Start your 7-day free trial now

Need to access the insight?

Start your 7-day free trial now


Do you need to access special insights on this matter?

Start your 7-day free trial  and become a member today


Subscribe to Top Insights Today

Subscribe to Executive Newsletter Top Insights Today

The Executive Newsletter -Top Insights Today- puts global business events in perspective through special insights

Join the ranks of global executives and subscribe to Top Insights Today

Top Insights Today covers insights on energy, clean-tech, oil&gas, mining, rare earths, defense, aviation, infrastructure, manufacturing, electrical vehicles, big-tech, finance and politics of business

By clicking subscribe you agree to our privacy and cookie policy and terms and conditions of use.

Read more insights

European Commission Set to Publish Green Hydrogen Legislation

The European Commission prepares to publish its technical legislation defining renewable hydrogen in May, but a lawmaker’s suggestion to include low-carbon gases has created concern among the officials. 

Germany is Drafting New, Tougher China Strategy

German Chancellor Scholz prepares for his Nov. 4 trip to Beijing, being closely watched regarding how serious Germany is to reduce its economic reliance on China and to confront its increasingly autocratic leadership. Scholz will become the first G7 leader to visit China since the start of the COVID-19 pandemic and the first to visit President Xi since he secured a precedent breaking third term at the Communist Party Congress last month. Deep trade ties bind Asia and Europe’s biggest economies, with rapid Chinese expansion and demand for Germany’s cars and machinery fueling its own growth over the past two decades. China became Germany’s single biggest trade partner in 2016. In addition, nearly half of Germany’s industry now rely on Chinese inputs.

Xi’s Taiwan Warning Marks Three Hour Phone Call with Biden

Xi warned Biden not to meddle in China’s dealings with Taiwan during an unusually long, three hour phone call, which gave no indication of breakthrough over issues of tension between the two countries, including trade, technology and other regional matters, including Beijing’s opposition to House Speaker Pelosi’s possible visit to Taiwan. According to the Chinese government statement, Xi also warned Biden against splitting the world’s two biggest economies.  

Stay informed

error: This content is protected !!