The partners expect to produce up to 40,000 tonnes of lithium hydroxide per year beginning in 2022.
Chile Mining News
The world’s No.1 miner had decided to offload Cerro Colorado mine in May last year, as part of chief executive Andrew Mackenzie’s bid to focus on large assets in commodities such as iron ore, copper and oil.
The Australian major has signed option and farm-in agreements for Cornerstone Capital Resources’ Miocene and Mirasol Mining's Gorbea properties, all of them in northern Chile.
Antipa Minerals reported "weak mineralization" in a target area that is part of the Citadel project, which has been touted as likely rich in copper.
The diversified miner anticipates 2018 production to be 2% ahead of previous guidance and costs to be 5% below.
Miocene is in the Atacama and Antofagasta regions of Chile, where Cornerstone is targeting epithermal gold-silver and porphyry gold-copper deposits.
The deal, approved by 91.7 percent of the union, also included 1.1 percent salary increases, Codelco said.
High risk, high reward is the bet being made by global lithium miners in Argentina who are brushing aside a recession, a currency crisis and political uncertainty in their hunger for the mineral that helps power electric cars.
Sumitomo Metal Mining and Sumitomo Corp. will pay $800 million earn-in contribution and $400 million matching contribution for a third of Teck's 90% interest in Quebrada Blanca mine.
The 36-month contract was approved by 53% of the union.
OK; half right.
Spot prices would be pushed down despite rapid demand growth from batteries for electric vehicles (EV) makers, the experts say.
Mine output fell 3 percent in the first nine months of the year as ore grades sharply declined, leading to a 12 percent drop in pretax profit.
Move allows major companies to lease to juniors all or part of assets they are not actively developing.
Move followed the dismissal of 49 workers and eight supervisors, union President Ronald Salcedo said.
The revised guidance is part of the company's ongoing progress in a number of low cost copper growth opportunities.
It is already being called by some experts “the thickest high-grade copper intersection seen in years.”
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.
Over its almost 18-year mine life, Santo Domingo is expected to produce an average of 134-million pounds a year of copper, 4.2-million tonnes a year of iron concentrates and 17,000 annual ounces of gold.
SQM said the previously announced delays were partly offset by high prices and 25% growth in demand in 2018 on sales to producers of electric vehicles.
That deal is expected to end years of wrangling over ownership rights to Grasberg, the world's second-biggest copper mine.
It was supposed to be a year of mine disruptions, with the market anticipating that multiple labour contract expiries would result in at least one strike.
Lower-grade shoulders are being left on the walls and only the higher-grade portions are being extracted.
International Battery Metals announces second licensing agreement with Ensorcia Metals Corp. for its lithium extraction technologies in Argentina
Argentina and Chile have some of the world's richest lithium bearing salars and with EAL's and Sorcia's ability to access those resources it's a step closer in achieving our goal as a disruptive technology for Lithium extraction.
Teck, which owns 90% of Quebrada Blanca in northern Chile, is looking to sell a 30 to 40% stake to an outside investor.