Determinación del precio de los minerales

The report establishes a technical framework for the pricing of lithium chemicals (carbonate and hydroxide) and concentrates (spodumene) using OECD transfer pricing principles. It details the physical characteristics of brine and hard-rock deposits, the production processes for different lithium products, and the economic drivers of demand, primarily linked to the electric vehicle battery market. The document identifies key contractual elements, such as Incoterms and pricing indices, and evaluates the role of Price Reporting Agencies (PRAs) in providing benchmarks for arm's length pricing. It concludes with guidance on comparability adjustments based on product quality, economic circumstances, and contractual terms.

• Lithium is primarily extracted from two types of deposits: brines and minerals (rocks). Brine deposits are most prevalent in Bolivia, Argentina, Chile, and the US, while mineral deposits are dominant in Australia, China, and the Democratic Republic of the Congo.
• The demand for lithium is heavily driven by the electric vehicle (EV) market, with EV sales growing from 6.4 million units in 2021 to 13.7 million in 2023. Lithium represents between 75% and 85% of the raw material costs for manufacturing cathodes.
• Lithium products are categorized by quality, with 'battery grade' requiring higher purity (99.5%) compared to 'technical grade' (99%). Refining technical grade to battery grade costs between 1.5 USD and 2.5 USD per kg, with a yield loss of 3% to 5%.
• The production of lithium from brines involves evaporation in ponds to create lithium chloride concentrate, which is then carbonated into lithium carbonate. Lithium hydroxide is produced from carbonate through a process called calcification.
• Hard-rock lithium production, primarily from spodumene, involves crushing and separation to create concentrates. These concentrates are then calcined at temperatures above 1,000 °C and acidified with sulfuric acid to produce lithium sulfate, which can be converted into either carbonate or hydroxide.
• Lithium pricing has evolved from individual negotiations to the use of indices provided by Price Reporting Agencies (PRAs) such as Argus Media, Asian Metals, Benchmark Mineral Intelligence, Fastmarkets, S&P Global Commodity Insights, and Shanghai Metal Market.
• Contractual pricing for lithium chemicals typically uses variable prices adjusted by an index, often with discounts or premiums ranging from -15% to +5%. Long-term contracts (3 to 7 years) may include 'caps and floors' to manage volatility.
• For lithium mineral concentrates, the primary price determinant is the lithium oxide (Li2O) content. Prices are typically based on a standard 6% Li2O product and adjusted linearly for the actual content, provided it meets a minimum threshold (e.g., 5%).

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} }