IGO suspends annual dividends from Tianqi JV amid market downturn
The JV experienced a build in lithium hydroxide inventory at Kwinana over recent months.
Twelve companies including global miner Rio Tinto and Chinese electric vehicle maker BYD have submitted proposals to extract lithium in Chile’s Altoandinos salt flats, the state mining company ENAMI said on Thursday.
The salt flats in the northern region of Atacama are one of the areas where the Chilean government is aiming to boost lithium production in partnership with the state by kicking off new projects.
ENAMI launched its search in May, seeking a partner to offer either financial backing or operational support in Altoandinos, for an ownership stake that has yet to be determined.
In addition to Rio Tinto and BYD, the applicants included publicly listed miner Eramet of France, battery maker LG Energy Solution of South Korea, steel company Posco, also from South Korea, and Chilean construction group Belsaco.
The others were Argentina’s Tecpetrol, Russia’s Axionit, Canada’s Summit Nanotech, Chile’s Grupo Errazuriz, and from China, CNRG and a consortium known as BTR.
Chile is the world’s second largest producer of lithium, a key material for most batteries that power electric vehicles.
ENAMI will announce on Aug. 19 which companies meet the eligibility requirements, before moving into negotiations with the final round of applicants.
“This confirms the commitment of these companies to proceed in a public-private partnership to make this project happen,” ENAMI chief Ivan Mlynarz said in a statement.
ENAMI, which processes copper for local mining companies, has been tasked with spearheading the government’s maiden ventures into lithium alongside state mining giant Codelco, which is also seeking a partner in the Maricunga salt flat.
(By Daina Beth Solomon and Fabian Cambero; Editing by Anthony Esposito)
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