Tesla lobbying to secure lithium from Chile — report
Tesla executives held talks with the ministers of foreign affairs and mining, as well as with the leader of the development agency Corfo.
Tesla executives held talks with the ministers of foreign affairs and mining, as well as with the leader of the development agency Corfo.
The world’s second-largest lithium miner's net income hit $3.9 billion in 2022, compared $585.5 million the previous year.
The “limiting factor” is refining lithium, not actually finding it, as no country has a monopoly on deposits, Musk said.
The company plans to restart production this year from the former Independencia mine dating to 1793.
Automakers have been pushing into mining more aggressively to lock in supply for batteries.
Rare discounts offered by Chinese battery giant CATL to automakers have accelerated a plunge in lithium prices.
There are only three issues left to be solved, with two of them being in the final stage of negotiations.
Supply remained relatively tight and demand will be supported by the pick-up in downstream steel demand, analysts say.
Inferred resource has an estimated 15.8 million tonnes of lithium carbonate equivalent, American Battery Technology Company said.
In terms of the size of the copper unit’s IPO, McEwen said it will be determined by capital needs.