https://www.miningweekly.com

China's Tsingshan to invest $233m in lithium - Chilean President

16th October 2023

By: Reuters

  

Font size: - +

Chilean President Gabriel Boric said on Monday that Chinese Tsingshan Holding Group will make lithium-related investments worth $233.2-million in Chile.

"The most important thing, is that we're not limiting ourselves to just the extraction of lithium, but we'll be creating value chains and transferring knowledge," Boric said in a video posted on social media.

The government said the project aims to produce 120 000 metric tons of lithium iron phosphate (LFP), used to power electric vehicles. LFP is a lower-cost competitor to nickel cobalt manganese cells.

Yongqing Technology, which belongs to Tsingshan Holding, will have access to 11 244 t of battery grade lithium carbonate from SQM at a preferential price until 2030. The plan will also import lithium carbonate from Tsingshan's joint lithium project with Eramet ERMT.PAin Argentina.

Chile's government announced a plan to take state control over its lithium industry earlier this year. It's currently negotiating state control over SQM, which has a lithium contract that expires in 2030.

The governments's statement said the plant is expected to be operational in May of 2025 and will create 668 jobs when it reaches full capacity.

The Chilean president flew last Thursday to China in a trip which seeks to strengthen relations between the two countries. Boric is set to return on the 18th after participating in several business forums.

Edited by Reuters

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

Hanna Instruments (Pty) Ltd
Hanna Instruments (Pty) Ltd

We supply customers with practical affordable solutions for their testing needs. Our products include benchtop, portable, in-line process control...

VISIT SHOWROOM 
Iritron
Iritron

Iritron delivers advanced automation, control, and optimisation solutions to the Mining, Minerals & Metals, Consumer Package Goods and...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

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:0.052 0.757s - 128pq - 2rq
Subscribe Now