Economy chief says Chile’s lithium products likely to get US subsidies
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.
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.
Funds will be used for the expansion of its flagship Kathleen Valley lithium project.
The spot price of lithium carbonate in China has rebounded to the highest level since December.
Core said it is restructuring its business in response to a rapid decrease in prices of spodumene.
Oil companies plan to take advantage of emerging technologies to filter lithium from brine, as the world seeks to move away from fossil fuels.