(Bloomberg) -- On the edge of Chile’s Atacama Desert, one of the world’s biggest lithium refineries is about to get a lot bigger.Most Read from BloombergNY...
-- On the edge of Chile’s Atacama Desert, one of the world’s biggest lithium refineries is about to get a lot bigger.Justice Department to Sue Apple for Antitrust Violations as Soon as ThursdayOwner SQM is lining up giant tanks and vats for a new processing line, with construction set to start in earnest next year, production manager Humberto Carvajal said.
The refinery’s transformation into an 840-acre mega-complex mirrors the emergence of lithium as a critical material for weaning the world off fossil fuels. The plant — like the lithium market itself — has more than tripled in size in the past several years. Further expansions will take annual capacity from about 200,000 metric tons to as much as 300,000 tons, making it the world’s biggest refinery. That level of output represents the entire lithium market of just five years ago.
Growing its share of the market is another reason. At current prices, some of SQM’s higher-cost rivals are losing money. In the last round of earnings calls, some industry executives stressed the need for supply discipline. The frugal life of Warren Buffett: How the billionaire spends his fortune, from McDonald's breakfasts to a rare and 'indefensible' splurge
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Argentina Lithium & Energy Emerging as a Lithium Exploration PowerhouseThe Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.
Read more »
OC Transpo head doubles down on Trillium Line opening in springThe head of OC Transpo is standing firm that the north-south Trillium Line will open sometime this spring, despite the transit authority having extended the timeline for opening until at least early summer.
Read more »
Blackrock doubles down on crypto with new digital asset fundInvestment management giant - Blackrock has taken a new step in its crypto venture. According to a new U.S Securities and Exchanges Commission...
Read more »
Iberdrola Doubles Down on US Grid Focus in New Strategic UpdateIberdrola SA is strengthening its focus on power networks, allocating 60% of new funding to grid projects through 2026.
Read more »
Canadian mixed doubles curling championship down to final eightFREDERICTON — The Canadian mixed doubles curling championship quarterfinal matchups were set after play-in games Thursday.
Read more »
Canadian mixed doubles curling championship down to final eightFREDERICTON — The Canadian mixed doubles curling championship quarterfinal matchups were set after play-in games Thursday.
Read more »