The company is accelerating the next phase of its recycling project to demonstrate that its hydrometallurgical black mass process is scalable, profitable, and can be implemented at other locations.

The South American country, part of the so-called "lithium triangle" along with Chile and Bolivia, has attracted investments from foreign companies in Canada and China.

Comments pour some cold water on the notion of a swift roll-out of technologies that offer cheaper, faster and greener ways to extract lithium in South America.

Chile's financial regulator is currently reviewing Tianqi's complaint, and has said that the company could appeal the decision in the court system.

Russia plans to speed up its only lithium production project by 3-4 years from an originally planned 2030.

About $1.5bn invested in energy transition-related projects are at risk through 2030, research from Bain & Company shows.

Tianqi has argued to the regulator that a shareholders' vote is needed to approve the SQM-Codelco agreement.