Lithium Squeeze Looms as Top Miner Front-Loads, Chile Says
- SQM quota to mine in Atacama could run out in 2022, Corfo says
- Agency says Albemarle growth may not be enough to cover demand
This article is for subscribers only.
Plans by one of the world’s top lithium producers to accelerate output could lead to a shortage of the light metal used in electric-car batteries in five years, according to the Chilean government’s development agency.
Soc. Quimica & Minera de Chile SA last month announced plans to increase its capacity to produce lithium carbonate from 48,000 to 63,000 metric tons a year. At that rate, it would reach its output limit of about 1 million tons well before the concession with Corfo, which owns the land, expires in 2030. Extracting more from the area would require applying for new licenses. SQM is embroiled in a dispute with Corfo over royalty payments.