MIT researchers have designed a new lithium-ion battery whose cathode doesn’t use cobalt or nickel.

The A$385 million ($254 million) acquisition of Lithium Power International hands Codelco the Maricunga lithium project.

The metal used in stainless steel and EV batteries is down more than 40% from a year ago amid a growing global glut.

A new nickel and cobalt-based material helps remove urea from water and potentially convert it into hydrogen gas.

State-owned lithium company YLB and a Chinese consortium are building a pilot plant at the salt flat, which will use DLE technology.