Chile forms entity with SQM to control domestic lithium production
The government of Chile has formed an entity to keep a majority stake in domestic lithium production with one of the two private companies that mine it, while also setting aside land for 13GWh of downstream energy storage projects. Following negotiations since May, the state-owned National Copper Company (CODELCO) and publicly listed chemicals corporation Sociedad Química y Minera de Chile (SQM) have formed a ‘common partnership’ in which CODELCO will hold a stake of 50% ‘plus one share’, giving it control. The government said this will allow the Chilean state to retain a majority stake in lithium extraction in partnership with private companies, following its announcement in April of plans to nationalise its industry. The move has been spearheaded by Leftist president Gabriel Boric through his National Lithium Strategy. Lithium is the main mineral needed to manufacture lithium-ion batteries, which are the main technology used today for electric vehicle (EV) batteries and battery energ
Chile forms entity with SQM to control domestic lithium production Skip to content News Chile forms state-controlled entity with SQM to control domestic lithium production By Cameron Murray January 4, 2024 Americas Grid Scale , Connected Technologies Policy LinkedIn Twitter Reddit Facebook Email Lithium mining (right) in Chile’s Atacama desert region. Image: Coordenação-Geral de Observação da Terra/INPE / FLickr. The government of Chile has formed an entity to keep a majority stake in domestic lithium production with one of the two private companies that mine it, while also setting aside
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