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

comments closed

Related News

February 4, 2023

Eastman acquires performance films company Ai-Red Technology

Chemical Value Chain

Eastman Chemical Co. (Kingsport, Tenn.) announced it has acquired Ai-Red Technology (Dalian) Co., Ltd., a manufacturer and supplier of paint protection and window film for auto and architectural markets in the Asia Pacific region.

February 4, 2023

BASF and StePac partner on chemical recycling MAP packs to fight food waste

Chemical Value Chain

BASF and Israeli packager StePac have joined forces to create the “next generation” of fresh produce packaging. BASF will provide StePac with greater flexibility to advance contact-sensitive packaging formats to a higher sustainability standard by supplying StePac with Ultramid Ccycled – a chemically recycled polyamide 6.

February 4, 2023

TotalEnergies and Intraplás partner on food-grade renewable biopolymer production

Chemical Value Chain

TotalEnergies’ biorefinery in La Mède, France, allows direct access to renewable feedstock for its drop-in RE:newable polymer range derived from bio-based products. The company claims these polymers retain virgin-like properties.

How can we help you?

We're easy to reach