SQM didn’t give monetary particulars of the cope with the Korean automakers, however stated there was “robust motivation to proceed with (its) lithium hydroxide growth plan.”
The miner’s present Chilean capability for lithium hydroxide, created from lithium carbonate, is at 40,000 metric tons per yr, in line with its first-quarter outcomes.
SQM is on monitor to spice up output in Chile to 100,000 tons in 2025. It is usually increase capability in China and Australia.
On the finish of Might, SQM signed an settlement with Chilean state-run miner Codelco to kind a three way partnership that can let SQM increase output by means of 2060 on the Salar de Atacama, one of many world’s most prized areas for extracting lithium.
(Reporting by Fabian Cambero; Writing by Kylie Madry; Enhancing by Sarah Morland and Alexander Smith)