Chinalco could invest $426 million in Suriname bauxite project
If approved by parliament, Chinalco could begin construction by the middle of next year.
Albemarle, the world’s top lithium producer, said on Friday it had closed an early collective bargaining agreement with its union of supervisors at its three locations in Chile.
“This important agreement establishes the conditions, rights and obligations of both parties, in a collective instrument that replaces the previous one, and that comes into force as of June 19, 2024,” Albemarle said in a statement without elaborating.
In late June, the company reached an early deal with another union representing 345 workers across its three sites that will be effective in December. Lithium is essential in electric vehicle batteries.
Miners routinely seek to seal early contract negotiations to avoid the risk of strikes at their operations.
Albemarle andSantiago-based SQM are the only lithium producers in Chile, whose government is seeking state control over the industry.
State-owned Codelco, the world’s largest copper producer, announced in late May the start of formal negotiations to establish a new public-private partnership with a state majority.
(By Fabián Andrés Cambero and Alexander Villegas; Editing by Richard Chang)
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