https://www.miningweekly.com
Copper|Projects
Copper|Projects
copper|projects

Cochilco sees lithium shortage, price increases from 2031

31st May 2023

By: Reuters

  

Font size: - +

SANTIAGO - The Chilean Copper Commission (Cochilco) forecast on Tuesday a "strong" lithium shortage and significant price hikes from 2031, as demand surges for the metal used to make batteries for electric vehicles.

A presentation by the state-run entity showed annual global demand at 3.8-million tonnes by 2035, far exceeding estimated worldwide production of 2.46-million tonnes.

Cochilco research head Victor Garay said lithium projects could increase production by around 2035, narrowing the gap between supply and demand.

Chile, the world's second largest lithium producer, is set to produce 336 000 t of the metal per year by 2035, double the 2021 level, Cochilco data showed.

Argentina's annual output would climb to 415 000 t, from 28 000 t.

Cochilco is working on establishing a model to estimate the price of lithium as the commission does with the copper market, but instability in prices has delayed the initiative as they are set differently in every contract, said Joaquin Morales, the head of the agency.

Edited by Reuters

Comments

Showroom

Booyco Electronics
Booyco Electronics

Booyco Electronics, South African pioneer of Proximity Detection Systems, offers safety solutions for underground and surface mining, quarrying,...

VISIT SHOWROOM 
Immersive Technologies
Immersive Technologies

Immersive Technologies is the world's largest, proven and tested supplier of simulator training solutions to the global resources industry.

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:0.132 0.167s - 91pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: