Lithium deal shows China’s accelerating race for battery metals
Lithium has gotten so hot that even China’s gold miners want a slice of the market, sky high valuations and all.
Lithium has gotten so hot that even China’s gold miners want a slice of the market, sky high valuations and all.
The Chinese company also cited higher costs for raw materials such as lithium carbonate for the price increase.
The plant will be in the town of Guben, a roughly 90-minute drive from where Tesla is building its gigafactory.
In August, Chinese gold and copper miner Zijin said its plan on lithium and other new energy minerals were in a preliminary strategic planning stage.
Stellantis, Bill Gates' Breakthrough Energy Ventures and others have invested millions of dollars or signed supply agreements with so-called direct lithium extraction (DLE) start-ups.
Thacker Pass, in Humboldt County, Nevada, is considered to be the largest known lithium resource in the US.
At his regular morning news conference, Lopez Obrador stressed that Mexico's lithium should be developed exclusively by the government.
Bacanora sees enough in the proposal submitted to Congress last week to carry on with development given early construction work had already started.
A number of acquisitions of lithium miners have been announced in recent months.
Lilac is part of a growing number of technology developers seeking to extract lithium from saltwater brines faster, cheaper and with less water than evaporation ponds.