Sweden seeks lithium tie-ups in South America amid battery metal rush
Peru – a major copper producer – is also looking to edge in on the action.
Peru – a major copper producer – is also looking to edge in on the action.
The company reported achieving 99.88% purity in its production of NMC cathode material.
It wants to raise £1m to support further drilling for subterranean lithium-bearing brines in the ancient mining region of Cornwall, south-west England.
Deliveries under the deal will begin in August, with 20,000 dry metric tonnes of concentrate to be shipped annually for six years.
Top exporter Australia predicts a 26% rise in lithium stockpiles in 2019 – that's 2.5 years of consumption.
The miner expects to invest 525 million euros in the Centenario deposit with the aim of producing 24,000 tonnes of lithium carbonate equivalent per year.
The project is expected to produce 30,000 tonnes of lithium, 20,000 tonnes of battery-level lithium hydroxide and 10,000 tonnes of lithium carbonate.
The EV market has boomed in recent years, but still makes up just a fraction of total car sales.
The company said in a statement on its website that various emergency measures were in place to protect staff and avoid damage in case of aftershocks.
European lithium projects are making a fresh push for capital, eager to supply the white metal to a burgeoning network of battery manufacturers and electric vehicle makers across the continent, the world's second-largest EV market after China.
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