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Chile has moved to seek greater control over its lithium industry. The plans, announced by the country’s president Gabriel Boric, fall short of full scale nationalisation, but do envisage majority state-owned partnerships with private companies for the exploitation of lithium deposits. Going forward, the country’s two lithium miners, Chile’s SQM and the US mining giant Albermarle, must negotiate with state-owned copper producer Codelco as regards future state participation in their existing concessions.
Copyright: Lithium Markets Niall O'Connor Uncategorized Leave a comment 15th May 2023 28th May 2023 1 Minute Lithium Markets: Search For Scale Logic dictates that mining companies consolidate. In the latest iteration, Australia’s Allkem has announced an all-share merger deal with US rival Livent. The combined business will be worth $10.6bn, making it the third largest player in the lithium space, behind Albemarle and Chile’s SQM. It will have have production capacity of around 250,000 tonnes of lithium, wit
China leads the global race to obtain critical minerals. Huayou Cobalt, for example, recently paid $422mn for a lithium mine at Arcadia in Zimbabwe. The company has also made a strategic investment in a mine in Uis, a remote part of Namibia. In the global race for lithium, Africa offers significant advantages to those that are brave enough to take the risks associated with investing there – not least, the fact that development of new mines is typically not hindered by the political and environmental hurdles
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