https://www.miningweekly.com

Chile says companies to invest $754m in lithium industry

10th March 2018

By: Reuters

  

Font size: - +

SANTIAGO – Chile's development agency Corfo said on Friday that companies from China and South Korea, as well as Chile, had been approved to make investments of around $754-million in the red-hot lithium industry.

The companies selected in a bidding process to develop technology focused on the lithium market were Chile's Molymet and China's Sichuan Fulin Industrial Group, a joint venture between Samsung SDI Co and South Korea's POSCO .

Corfo said that within two years the companies would be ready to produce about 58 000 t of cathode a year, the main material in lithium batteries.

The Atacama salt flat is part of the so-called "lithium triangle" in Argentina, Bolivia and Chile, a region containing a large portion of the world's lithium reserves.

Investment and output have increased in recent years as demand for electric vehicles surges.

Also on Friday, the mining ministry said in a statement state-run miner Codelco had signed a contract to mine lithium from the Maricunga deposit, without giving details on potential partners or investments.

It would be the first foray into lithium for the world's top copper producer. Corfo said in January it had struck a deal with miner SQM that would allow Codelco to begin lithium development in Maricunga.

Edited by Reuters

Comments

Showroom

Werner South Africa Pumps & Equipment (PTY) LTD
Werner South Africa Pumps & Equipment (PTY) LTD

For over 30 years, Werner South Africa Pumps & Equipment (PTY) LTD has been designing, manufacturing, supplying and maintaining specialist...

VISIT SHOWROOM 
John Deere (Pty) Ltd
John Deere (Pty) Ltd

In 1958 John Deere Construction made its first introduction to the industry with their model 64 bulldozer.

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Hyphen, Eva mine, ferrochrome price make headlines
Hyphen, Eva mine, ferrochrome price make headlines
27th March 2024
Resources Watch
Resources Watch
27th March 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.126 0.16s - 107pq - 2rq
Subscribe Now