The company intends to develop a high-margin, long-life, large-scale and low-carbon mine. It will produce a 60% nickel concentrate for direct feed into the stainless steel industry.

“Australia can be more than a ‘dig and ship’ nation,” Tesla chair Robyn Denholm told a conference in Canberra.

All Chile's lithium mining facilities have now completed the evaluation process preferred by EV manufacturers.

The company is already producing in phase one of the mine, with expected production of 130,000 tonnes of battery-grade lithium concentrate this year.

“Australia can be more than a ‘dig and ship’ nation,” Tesla Chair Robyn Denholm told a conference in Canberra.

Its chairman also expects the market to maintain its confidence in Codelco, despite rating agency Moody's giving notice of a possible ratings downgrade.