Column: Albemarle looks to shed more light on lithium pricing
The lithium supply chain is maturing but the metal's pricing seems trapped at the early development stage.
The lithium supply chain is maturing but the metal's pricing seems trapped at the early development stage.
The first drawdown will be for C$2.75 million, and is expected to close within the next two weeks.
The decision follows its acquisition of the Lake Johnston nickel concentrator plant and tenure from Poseidon Nickel.
Companies such as Arcadium Lithium and Posco Holdings are free to continue producing the metal and developing existing projects, Catamarca said.
If extended to value-added Chilean lithium, the subsidies will make it more attractive for US companies to invest in the country, said Economy Minister Nicolas Grau.
The ruling involves the Los Patos River-Salar del Hombre Muerto area, where global lithium giant Arcadium Lithium has a project.
The mine, which will supply General Motors, is a key part of US President Biden's efforts to reduce dependence on Chinese lithium.
The first auction is planned for March 26.
The company reported an $111 million loss for 2023 as its share price has crumbled in the past year.
UBS and Goldman Sachs have trimmed their 2024 supply estimates by 33% and 26%, respectively.