Chile’s Codelco expects to reach agreement on lithium with SQM this year

Chile’s state-owned mining company, Codelco, is reportedly expecting to reach an agreement with lithium miner SQM this year, according to Codelco Chairman Maximo Pacheco. This follows Chile’s government’s announcement earlier this year of plans to strengthen state control over the lithium industry, allowing only public-private partnerships to participate in lithium exploitation.

Chile is home to the world’s largest lithium reserves, making the nation a key player in the global lithium market. The government’s efforts to increase state control over lithium are part of its strategy to maximize the value derived from the country’s lithium resources and to have a greater say in the industry’s development.

This development aligns with a broader trend among resource-rich nations to encourage domestic processing and value-added activities for minerals rather than simply exporting raw materials. By increasing state participation and control in lithium mining and processing, Chile aims to capture a larger share of the economic benefits associated with the booming lithium-ion battery industry.

While lithium prices have experienced fluctuations in recent years, demand for lithium-ion batteries continues to grow due to their use in electric vehicles (EVs), energy storage systems, and other applications. As a result, lithium remains a critical resource for the clean energy transition, and nations with significant lithium reserves are seeking to position themselves as key players in the global supply chain.

Chile’s push for greater state control over lithium is seen as a way to ensure the country benefits from the growing demand for lithium-ion batteries and the transition to EVs, which is expected to accelerate in the coming years.

Elevate your business with QU4TRO PRO!

Gain access to comprehensive analysis, in-depth reports and market trends.

Interested in learning more?

Sign up for Top Insights Today

Top Insights Today delivers the latest insights straight to your inbox.

You will get daily industry insights on

Oil & Gas, Rare Earths & Commodities, Mining & Metals, EVs & Battery Technology, ESG & Renewable Energy, AI & Semiconductors, Aerospace & Defense, Sanctions & Regulation, Business & Politics.

By clicking subscribe you agree to our privacy and cookie policy and terms and conditions of use.

Read more insights

Ford-led consortium to build C$1.2 billion battery materials plant in Quebec

A consortium composed of Ford Motor Co and South Korean companies has announced plans to construct a C$1.2 billion ($887 million) plant in Becancour, Quebec, for the production of electric vehicle (EV) battery materials. The plant will manufacture 45,000 tonnes of cathode active materials (CAM) annually for Ford’s EVs. The materials will be high-quality Nickel Cobalt Manganese (NCM) used in rechargeable batteries to enhance EV performance and range. The factory is set to become operational in the first half of 2026, generating over 345 jobs.

Europe enters winter more dependent on seaborne gas than ever

Europe is heading into winter more exposed to seaborne gas than at any point in its modern history. After two years of weaning itself off Russian pipelines and watching Algerian flows ebb, the bloc must pull in roughly 16 billion cubic meters of extra liquefied natural gas, on the order of 150-160 standard cargoes, to balance the season.

That pushes total LNG receipts this year to about 820 shipments, nearly half of the EU’s gas supply mix. A decade ago LNG was a sideshow at roughly a tenth of demand; even in 2021, before the invasion of Ukraine, it was under a quarter. The structural drift is unmistakable: fewer steady pipes, more ships chasing weather and price signals.

Hyundai starts construction of $1.5 billion South Korea EV plant

Hyundai Motor Co has officially broken ground on a dedicated electric vehicle (EV) plant in Ulsan, South Korea, signaling a major commitment to the company’s shift toward electric mobility. The new facility, with an estimated cost of 2 trillion won ($1.52 billion), is expected to commence…

Stay informed

error: Content is protected !!