Tesla lithium supplier Kidman settles ownership row over Australian mine
The settlement unlocks payments by SQM that had been on ice during the dispute, and paves the way for development to get back on track
The settlement unlocks payments by SQM that had been on ice during the dispute, and paves the way for development to get back on track
The project, located in Salta, Argentina, could produce 10,000 tonnes lithium carbonate equivalent per year over a 25 year mine life.
High risk, high reward is the bet being made by global lithium miners in Argentina who are brushing aside a recession, a currency crisis and political uncertainty in their hunger for the mineral that helps power electric cars.
ACI Systems Alemania employs just 20 people and was created solely to focus on building a lithium mine in Bolivia.
Spot prices would be pushed down despite rapid demand growth from batteries for electric vehicles (EV) makers, the experts say.
The country's state development agency says Albemarle has failed to provide as much as 25% of its annual production at a discount to companies seeking to produce battery metals within Chile, as stipulated in a contract signed in 2016.
SQM said the previously announced delays were partly offset by high prices and 25% growth in demand in 2018 on sales to producers of electric vehicles.
Mineral Resources shares spiked on the news, closing Thursday 26.6% higher at A$15.76.
Argentina and Chile have some of the world's richest lithium bearing salars and with EAL's and Sorcia's ability to access those resources it's a step closer in achieving our goal as a disruptive technology for Lithium extraction.