According to the Argentine Foreign Ministry, Argentina, Chile, and Bolivia are drafting a document proposing the establishment of a lithium version of the Organization of Petroleum Exporting Countries (OPEC) in order to reach better prices amid lithium mineral price fluctuations and uncertainties.
Argentina, Bolivia, and Chile all have huge lithium ore reserves and production potential. The total lithium resource reserves of the three countries account for 65% of the world's total, and the total lithium ore production accounts for nearly 30% of the world's total output.
