- Write by:
-
Saturday, January 23, 2021 - 12:54:35 PM
-
828 Visit
-
Print
Mining News Pro - Shareholders of Chilean miner SQM voted on Friday to greenlight a plan to raise $1.1 billion through the sale of common stock to help underwrite an expansion of its lithium, nitrate and iodine operations, a company spokesperson said.
The world’s No. 2 lithium producer expects the capital will help finance its previously announced $1.9 billion, four-year investment plan, which aims to more than double its capacity to produce lithium carbonate in Chile to 180,000 tonnes annually from 70,000 tonnes. Funds might also be put toward its Mount Holland lithium project in Australia.
SQM recently reported progress in improving relations with the communities that live in that area of the arid Chilean north through several cooperation deals.
The company said it believed the lithium market would expand long-term by 20% a year, reaching 800,000 to 1 million metric tonnes by 2025.
Prices for lithium dropped last year due in part to the coronavirus pandemic, forcing companies to halt expansions.
Short Link:
https://www.miningnews.ir/En/News/610180
Chile’s state-run miner Codelco plans to select a partner for a future lithium project in one of the country’s top salt ...
Chile’s SQM called another investors meeting at the request of its second-largest shareholder, Tianqi Lithium Corp., ...
Lithium supplier Vulcan Energy on Wednesday announced the start of production of the first lithium chloride at its ...
A stuttering recovery in lithium prices is providing a fresh reminder of why the dramatic rally of recent years was ...
A US and European Union push to reach an accord on fostering critical mineral supply chains is set to miss another ...
Trading of CME Group Inc.’s nearly three-year-old lithium hydroxide futures contract is soaring, with more funds ...
Chile’s mining production is starting to turn the corner after months of a sustained output slump, with the country’s ...
Undeterred by slumping profits, China’s lithium giants are planning to grab a bigger slice of the market.
Mitsui & Co said on Thursday it will spend $30 million to take a 12% stake in US-based Atlas Lithium to venture into ...
No comments have been posted yet ...