Connect with us

Hi, what are you looking for?

CleanTechnica
Around $754 million in new lithium industry investments have been approved by the development agency of Chile, Corfo, as revealed in an announcement from the authority.

Batteries

Chile’s Corfo: $754 Million In New Lithium Industry Investments Approved

Around $754 million in new lithium industry investments have been approved by the development agency of Chile, Corfo, as revealed in an announcement from the authority.

Around $754 million in new lithium industry investments have been approved by the development agency of Chile, Corfo, as revealed in an announcement from the authority.

The new investments are coming from a number of different firms — spread out across the world, including some based out of Chile itself, China, and South Korea, reportedly.

The new investments were approved via a competitive bidding process that saw inputs from a number of different regions and sectors. Among the companies approved to make investments were the Chile-based firm Molymet and the China-based joint-venture Sichuan Fulin Industrial Group (which is itself a joint venture between involving the South Korean firms Samsung SDI Co and POSCO).

The Reuters coverage provides more: “Corfo said that within 2 years the companies would be ready to produce about 58,000 tonnes of cathode per 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.”

This is more news to suggest that near-term lithium supply constraints aren’t anything like as much of an issue as they are sometimes presented as being. That said, the firms that lock up long-term supply contracts will clearly have an advantage.

On that note, see: Tesla Eyeing Chile’s Lithium Reserves, In Talks With SQM.

 
Appreciate CleanTechnica’s originality? Consider becoming a CleanTechnica Member, Supporter, Technician, or Ambassador — or a patron on Patreon.
 
 

Advertisement
 
Have a tip for CleanTechnica, want to advertise, or want to suggest a guest for our CleanTech Talk podcast? Contact us here.

Written By

James Ayre's background is predominantly in geopolitics and history, but he has an obsessive interest in pretty much everything. After an early life spent in the Imperial Free City of Dortmund, James followed the river Ruhr to Cofbuokheim, where he attended the University of Astnide. And where he also briefly considered entering the coal mining business. He currently writes for a living, on a broad variety of subjects, ranging from science, to politics, to military history, to renewable energy.

Comments

You May Also Like

Batteries

Even though there are mistakes and accidents in the Australian mining industry, I believe it has the answer to Tesla’s problem of obtaining enough...

Batteries

Originally posted on EVANNEX. By Charles Morris The good news is that electric vehicle sales are soaring, and the battery business is booming. The bad news...

Batteries

The US Department of Energy recently shared that through 2020, most battery cells and packs used in US plug-in vehicles were produced in the...

Batteries

As Australia moves glacially towards exporting products that mitigate climate change instead of exporting products that increase it, Western Australia is taking Robyn Denholm’s...

Copyright © 2021 CleanTechnica. The content produced by this site is for entertainment purposes only. Opinions and comments published on this site may not be sanctioned by and do not necessarily represent the views of CleanTechnica, its owners, sponsors, affiliates, or subsidiaries.