Sector News

SQM announces jv with Lithium Americas

March 29, 2016
Chemical Value Chain

Sociedad Química y Minera de Chile S.A. (SQM) announced Monday it has entered into a 50/50 joint venture with Lithium Americas Corp. (LAC; Vancouver, BC) to develop the Caucharí-Olaroz lithium project in Argentina after SQM contributed $25 million in exchange for a 50% ownership stake in LAC subsidiary Minera Exar.

LAC CEO Tom Hodgson says that “one of the principal objectives of the jv is to leverage the technical experience of SQM to materially de-risk the development of Caucharí and to successfully advance a project to bring new supply to the market on a timely basis.”

SQM and LAC plans to execute a work and engineering plan immediately, which contemplates completion of an updated definitive feasibility study based on an existing study for Caucharí that was completed by Minera Exar in 2012. The updated study will evaluate economic feasibility for a project with a nameplate production capacity of approximately 40,000 m.t./year of lithium carbonate equivalent.

Sales of lithium and lithium derivatives from SQM’s existing operation in Chile accounted for 13% of revenues in 2015 and the company expects global demand for lithium chemicals to increase 10% this year from the 2015 global lithium demand of approximately 150, 000 m.t.

By Jing Chen

Source: Chemical Week

Related News

June 13, 2021

Husky Injection Molding Systems teams up with Chem-Trend to slash color change times

Chemical Value Chain

Industrial technology provider Husky Injection Molding Systems is partnering with injection molding specialist Chem-Trend to design a color change system for packaging manufacturers to ensure repeatability and a more optimized and accurate process.

June 13, 2021

MOL Group to acquire OMV’s business in Slovenia

Chemical Value Chain

The agreement encompasses 120 filling stations, as well as OMV’s wholesale business in Slovenia. The transaction is subject to required regulatory approvals and closing is expected in 2022.

June 13, 2021

The biodegradable battery – an ecological miracle

Chemical Value Chain

Xavier Aeby and Gustav Nyström from Empa’s Cellulose & Wood Materials lab invented a fully printed biodegradable battery made from cellulose and other non-toxic components.

Send this to a friend