The president of Global Lithium dismissed as a 'myth' the possibility of the markets being flooded with lithium chemical.
SQM Mining News
Chile exported lithium carbonate at an average price of $12,183 per tonne, 0.9% down from the same period a year earlier.
Wesfarmers' bid for Australia's Kidman Resources undervalues the lithium miner, analysts said on Friday.
Tianqi's official board nominations will take place on April 25 at a shareholders meeting in Santiago.
Sociedad Química y Minera de Chile has a 5-year option to explore and earn an 80% interest in the Calvario and Mirador projects.
Chile's SQM, the world’s second-largest lithium miner, said expansion plans had gone better than expected and that sales would likely beat its forecasts for this year.
Tianqi's $4.1B purchase of a 24% stake in SQM went through in December, but the Chinese firm has faced push back.
Chile would shortly begin accepting bids from local and foreign companies seeking to develop battery materials using discounted Chilean lithium provided by SQM.
The $400 million plant expansion, once complete, would allow the Chinese-backed SQM to eventually produce as much as 180,000 tonnes of lithium carbonate a year from its Atacama salt flat operations.
The world’s No.3 producer of the metal used in electric vehicle batteries said the candidates will be “fair” and “responsible toward shareholders”.
The company foresees strong long-term demand for lithium but offered a short-term prognosis clouded by the entry of new projects into the market and slowing growth of demand.
The lithium miner, the world’s second largest producer of the white metal, has approved additional measures to protect corporate data considered confidential from China'a Tianqi, which recently bought almost a quarter of the Chilean company.
The internal review found “significant errors” in CCHEN’s accounting of the sales of the world’s top lithium producers Albemarle and SQM between 1984 - 2015.
The 18-month remediation plan includes a new online system to monitor SQM's extraction rates of both brine and fresh water from beneath the salt flat.
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.
While lithium giants like SQM and Albemarle tangle with one another over scarce lithium brines and water, a beautiful lithium mine in Nevada’s Clayton Valley is taking shape.
Albemarle says it expects to ultimately receive approval to produce more lithium from Chilean Nuclear Energy Commission (CCHEN).
While the decision is final and not subject to appeal, one legal hurdle remains — Pampa Group, which controls SQM, earlier this month filed an additional appeal with Chile’s TDLC antitrust court.
Nutrien’s executive vice-president Michael Webb, described Julio Ponce, the Chilean miner’s top shareholder and former chairman, as a “hypocrite” and urged him to “look beyond himself."
On Oct. 11, Chile's Constitutional Court put the brakes on a $4 billion deal allowing the sale of A 24 percent stake in SQM to China's Tianqi Lithium Corp.
The Constitutional Court said it would hear arguments in the case on Oct. 22.
The country's antitrust court has approved a deal between the competition regulator and Tianqi, allowing the Chinese miner to buy a nearly one-quarter stake in lithium producer SQM .
Partners may lose their right to develop the Mt Holland lithium project after a recommendation by a unit of the West Australian government that regulates mining leases.
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.
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