The convincing debut sets the stage for what analysts expect to be another bumper year for Korean initial public offerings (IPO).

Chinese lithium carbonate prices have been on a tear, jumping by almost a third this year after surging more than 400% in 2021.

The decision shows the administration is increasingly comfortable prioritizing domestic conservation efforts, even as demand for minerals used to build electric vehicles rises amid efforts to combat climate change.

Minera Altos de Punitaqui is in the Coquimbo region of Chile, about 30 miles south of Teck's Andacollo copper mine.

It has signed a letter of intent with Koch Minerals & Trading for the purchase of lithium chemical offtake and the procurement of key raw materials.