Pilbara Minerals open to ‘great’ acquisition opportunities

Companies such as Arcadium Lithium and Posco Holdings are free to continue producing the metal and developing existing projects, Catamarca said.

If extended to value-added Chilean lithium, the subsidies will make it more attractive for US companies to invest in the country, said Economy Minister Nicolas Grau.

Net loss after tax widened to A$31 million in the six-month period ended Dec. 31, from A$6.9 million a year earlier.

The ruling involves the Los Patos River-Salar del Hombre Muerto area, where global lithium giant Arcadium Lithium has a project.

Ambassador Cong Peiwu said the Canadian government is “wrong” to prevent Chinese investors from buying majority stakes in domestic mining companies, like it did in 2022.

Pilbara will deliver 20,000 tonnes of the mineral to Sichuan Yahua from its Pilgangoora operation this year and 100,000 tonnes annually in 2025 and 2026.

The mine, which will supply General Motors, is a key part of US President Biden's efforts to reduce dependence on Chinese lithium.

The first auction is planned for March 26.

The company reported an $111 million loss for 2023 as its share price has crumbled in the past year.