Codelco is set to enter the lithium market after signing a deal with SQM, securing a majority stake in SQM’s Chilean assets. The partnership aims to produce an additional 300,000 tonnes of lithium carbonate equivalent between 2025 and 2030, and 280,000-300,000 tonnes from 2031 to 2060. The deal, however, faces challenges, including opposition from Tianqi and the need for indigenous consultation. Codelco's entry into the lithium market is expected to be bolstered by improvements in process efficiency, adoption of new technologies, and optimization of operations without increasing brine extraction or inland water use. Finance Minister Mario Marcel noted that the binding partnership is expected to be finalized by Friday’s deadline.
Codelco says increase in #lithium production at JV with SQM will come via improvements in process efficiency, the adoption of new technologies and the optimization of operations. Doesn't mean increased brine extraction or an increase in the use of inland water, Codelco adds.
Codelco & SQM agree terms for #lithium partnership. Seeking total additional production in 2025-2030 of 300,000 tonnes of lithium carbonate equivalent, and 280,000-300,000 tonnes in 2031-2060. Codelco has 50% plus one share.
Giant lithium partnership created in Chile https://t.co/ql3XevB9S1
Copper behemoth Codelco is about to become a major global lithium player, @jamesattwood @19eisanchez report https://t.co/HDWk5uKiq6
The Home of Malbec Wine Makes a Play for Copper in #Argentina Mining Revival Argentina’s Mendoza moves to lure prospectors to its deposits Fortescue, First Quantum are among those to express interest https://t.co/51t683jBd8
Codelco to Enter Lithium Market After Signing Deal With SQM State behemoth will get majority stake in SQM’s Chilean assets Deal faces challenge by Tianqi and indigenous consultation https://t.co/nC0HBg7cWm
Copper behemoth Codelco is about to become a major global lithium player https://t.co/a5qtpLuJNr
Chile hopes that SQM and Codelco will sign a binding lithium partnership by Friday’s self-imposed deadline, Finance Minister Mario Marcel said https://t.co/htjgnPY0dt
#Chile's ENAMI aims to break ground on first lithium project by 2028 https://t.co/srqnoJNzgk
Chile's Codelco reaches collective agreement with unions https://t.co/FvNKNyCYy8 https://t.co/fC5w90bPp5
#Chile's Codelco reaches collective agreement with unions https://t.co/GGtZXAtAk3