US lawmakers have moved closer to developing a national electric vehicle supply chain policy.
Albemarle Mining News
Talison Lithium, a partnership between China’s Tianqi and U.S. group Albemarle, obtained an environmental approval for the A$516-million ($361m) expansion of the Greenbushes mine in Western Australia.
The world's largest producer of lithium has teased the industry for more than a year that it has production-enhancing technology.
The world's largest producer of lithium used to make electric vehicle batteries posted a better-than-expected quarterly profit on Wednesday.
Chile exported lithium carbonate at an average price of $12,183 per tonne, 0.9% down from the same period a year earlier.
But with demand for lithium set to boom from above 300,000 tons a year to a million tons by 2025, mining companies need to grow fast and they prefer to do so in jurisdictions they know well.
Chile would shortly begin accepting bids from local and foreign companies seeking to develop battery materials using discounted Chilean lithium provided by SQM.
The world's largest lithium producer "sees nothing that could slow demand for the white metal used to make electric car batteries."
The dispute centered around a contract term that requires Albemarle to provide as much as 25 percent of its annual production of lithium at a discount.
Automakers, governments, miners and other have increasingly lobbied officials for access to Chile's coveted resources.
As mining activity surges, water tables are falling amid growing environmental concerns.
The joint venture will allow the American lithium producer, the world’s No. 1, to expand its presence in Australia.
The country's state development agency says Albemarle has failed to provide as much as 25% of its annual production at a discount to companies seeking to produce battery metals within Chile, as stipulated in a contract signed in 2016.
Mineral Resources shares spiked on the news, closing Thursday 26.6% higher at A$15.76.
The applicant does not present the details necessary to rule out significant adverse impacts on the soil, water and air.
Lithium sales rose less than 1% as production slipped due to unexpected shut downs at three of our lithium manufacturing sites - Albemarle
Albemarle failed to make a "serious" offer for its annual production capacity to be provided at a discounted rate - Corfo
Shares of Albemarle Corp fell more than 2 percent on Monday.
Albemarle requested an increase of 258,446 metric tons of Metallic Lithium Equivalent but the government says the information provided was not sufficient to justify the increase.
Albemarle aims to eventually end its dependence on two smaller units to fund growth as global appetite surges for electric vehicles and consumer goods.
Chile is preparing major new restrictions on the extraction of water from the lithium-rich Salar de Atacama salt flats, home to top lithium miners Albemarle and SQM.
Short selling of shares in lithium miners SQM, Albemarle, Galaxy and Orocobre has ballooned this year, reflecting a sign of growing scepticism.
China is home to the majority of the world's lithium processing facilities and sucks up most output of top producer Australia.
While lithium today isn’t the linchpin of Chile’s economy (that would be copper), miners are aggressively expanding production.
There is an emerging oligopoly in one of the hottest elements on the periodic table, lithium.