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Billionaire Paolo Rocca’s oil drilling unit will enter the lithium business one way or another — saying it’s lining up other options in case it fails with a $1 billion plan to develop a project in Argentina.
“There are other companies that are trading much lower in the space and there are other things that we are pursuing,” Dimopulos said in an interview Tuesday. “We want to be a player.” It’s counting on the support of the steel, construction and technology components in Rocca’s Techint empire to speed up development of Alpha’s project, with the goal of producing 20,000 to 25,000 metric tons of lithium carbonate equivalent by 2028. The investment would be financed in-house, with some funds possibly coming from debt or credit. Tecpetrol has also “visited all stakeholders in Chile” as the neighboring country looks to open up new areas for lithium extraction, Dimopulos said.
“A transition is a composition of things moving at different speeds — some accelerating and some diminishing,” he said. “There’s still room in a country like Argentina for fossil sites to develop while we are speeding new sources.”
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