Determinación del precio de los minerales

This report provides a transfer pricing framework for determining the price of lithium minerals, specifically applying the Comparable Uncontrolled Price (CUP) method. It details the physical characteristics of lithium deposits, production processes for brines and spodumene, and the economic factors influencing market prices to help developing countries ensure appropriate tax revenue from lithium exports.

• The report identifies three primary comparability factors for applying the Comparable Uncontrolled Price (CUP) method to mineral sales between related parties: product characteristics (physical attributes and quality), economic circumstances at the time of contract signing (agreement term), and contractual terms (quantity, transport, payment, insurance, quoting periods, currency exchange, and treatment/refining costs).
• Lithium is primarily extracted from two types of deposits: brines and minerals (rocks). Brine deposits are most prevalent in Bolivia, Argentina, the US, and Chile, while mineral deposits predominate in Australia, China, and the Democratic Republic of the Congo.
• The production of lithium chemicals differs by source: brine production involves evaporation and carbonation to create lithium carbonate, which can then be converted to lithium hydroxide via calcification. Mineral production (primarily from spodumene) involves crushing, concentration, calcination, and acidification to produce lithium sulfate, which can be converted into either carbonate or hydroxide at a similar cost.
• Lithium demand is heavily driven by the electric vehicle (EV) market, where lithium represents 75% to 85% of raw material costs for cathode manufacturing. Global EV sales grew from 6.4 million units in 2021 to 13.7 million in 2023, with China accounting for 60% of global sales in 2023.
• Lithium quality is categorized into 'battery grade' (typically 99.5% purity) and 'technical/industrial grade' (typically 99% purity). Battery grade lithium requires longer certification processes and generally commands a spot price premium of 1 USD/kg to 2 USD/kg over technical grade.
• Lithium chemicals are increasingly sold via variable pricing contracts indexed to Price Reporting Agencies (PRAs) such as Benchmark Mineral Intelligence, Fastmarkets, and S&P Global Commodity Insights. These contracts often include discounts or premiums (typically between -15% and +5%) and may feature price caps and floors for long-term agreements (3 to 7 years).
• For lithium mineral concentrates (like spodumene), the primary price determinant is the lithium oxide (Li2O) content. Prices are typically based on a standard 6% Li2O product and adjusted linearly for actual content, provided it meets a minimum threshold (e.g., 5%).
• The lithium market is characterized by high concentration; in 2023, six producers accounted for two-thirds of the global Lithium Carbonate Equivalent (LCE) supply. Major entities include Sociedad Química y Minera de Chile, Albemarle, and Tianqi.
• The report notes that recycling is expected to become a significant source of lithium supply starting in 2027, with its share of total supply increasing after 2030, potentially reducing the growth of primary lithium supply during that decade.

APA

Taquiri, J., Lassourd, T., & Viola, A. (2024). Determinación del precio de los minerales. International Institute for Sustainable Development. https://www.iisd.org/system/files/2024-09/determining-the-price-of-minerals-framework-lithium-es.pdf

Chicago

Taquiri, Jaqueline, Thomas Lassourd, and Andrew Viola. Determinación del precio de los minerales. International Institute for Sustainable Development, 2024. https://www.iisd.org/system/files/2024-09/determining-the-price-of-minerals-framework-lithium-es.pdf.

Wikipedia

{{cite report |last1=Taquiri |first1=Jaqueline |last2=Lassourd |first2=Thomas |last3=Viola |first3=Andrew |title=Determinación del precio de los minerales |publisher=International Institute for Sustainable Development |date=2024 |url=https://www.iisd.org/system/files/2024-09/determining-the-price-of-minerals-framework-lithium-es.pdf |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{taquiri2024determinacin, author = {Taquiri, Jaqueline and Lassourd, Thomas and Viola, Andrew}, title = {{Determinación del precio de los minerales}}, institution = {International Institute for Sustainable Development}, year = {2024}, url = {https://www.iisd.org/system/files/2024-09/determining-the-price-of-minerals-framework-lithium-es.pdf}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }