Rio Tinto hunts for lithium deals, eyes Jadar revival
Lithium prices, expected to stay at record highs, have the world’s second-biggest miner actively looking for lithium acquisitions.
Lithium prices, expected to stay at record highs, have the world’s second-biggest miner actively looking for lithium acquisitions.
More than $13 billion of investment has been announced in the less than three months since Biden signed the IRA into law.
The battery material in China has continued to retreat from the all-time high hit last month as signs of demand weakness weigh on the market.
BYD intends to provide technology for Chilean mines to directly extract lithium, and will secure supplies through offtake agreements with producers.
Rising supplies and China removing subsidies for electric vehicles mean a retreat is on the cards.
With the addition of a second production well at the project, total indicated resources are 1.3 million tonnes of LCE at a grade of 284 mg/L.
Company had entered into an alliance with Navajo Nation to develop its flagship Big Sandy lithium project in Arizona.
The expansion could triple battery-grade lithium concentrate production at the mine to 768,000 tonnes from years 2 to 8 of operations.
The company has already spent $16 billion buying three lithium mines over the past year.
Relentless rise of lithium prices and recent bounce in cobalt and nickel put pressure on electric vehicle manufacturers.