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SQM and LG Energy Solution (LGES), a lithium-ion battery manufacturer, have signed a memorandum of understanding to strengthen their business relations and supplement their standing lithium supply agreement, the companies announced Tuesday. Both parties commit to investigate and develop joint investment projects at different stages of the electro-mobility industry value chain, and contribute decisively to a more sustainable world.
Lithium hydroxide, cathode production and recycling projects in strategic locations are some of the potential joint investment projects which will be explored by SQM and LGES. Among these, the agreement to discuss the construction of a cathode production facility in Chile stands out.
“This agreement solidifies our commitment with the development of lithium products of global standard, with high added value and in line with the sustainability of our operations and the respect for our environment,” SQM´s General Manager Ricardo Ramos said in a media statement.
Lithium carbonate and lithium hydroxide are essential in the production of cathode material contained in batteries used by electric vehicles. SQM manufactures both products entirely in Chile starting with the extraction and concentration of brine with high content of lithium from the Salar de Atacama, which is transported afterwards to their facilities on the outskirts of Antofagasta where the worlds biggest production plant of lithium carbonate and lithium hydroxide is located and where they are processed and refined to meet the quality standards demanded by the industry.
SQM said its production process has one of the lowest carbon, water and energy footprints in the lithium industry.
