Hyperdrive
Lithium Venture in Chile in Talks with EV Firms to Invest in Mine Project
- Simco seeks equity sale to fund $600 million project
- ‘The door is always open’ to work with Codelco, Simco says
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A joint venture valued at $1.5 billion to $2 billion that wants to become Chile’s third lithium producer is in talks with investors to bankroll its project.
Simco Lithium, owned by a Singaporean investment fund and a Chilean business group, is exploring the sale of a non-controlling stake, said Sebastian Yang, a board member representing the Simbalik fund. While the around $600 million project is too small to appeal to major mining firms, there is interest from battery and electric-vehicle makers.