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India to send teams to Chile seeking lithium and copper assets, source says – ET Auto

Baua Electric

India will send two delegations next month to Chile to scout for lithium and copper resources, a government source said, as rapid economic expansion and New Delhi’s efforts to speed up the energy transition stoke demand for critical minerals. Kantha Rao, the most senior official at the Ministry of Mines, said last week. USD 1 = 83.30

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Codelco plans lithium exploration in Pedernales salt flat in late 2024 – ET Auto

Baua Electric

Chile’s state-run Codelco plans to begin lithium exploration in the country’s Pedernales salt flat in the second half of the year, as part of the copper miner’s nascent efforts to mine the white metal, Chairman Maximo Pacheco said on Monday. Chile holds the world’s largest lithium reserves.

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Saudi Arabia Pursues Lithium to Fuel EV Ambitions – ET Auto

Baua Electric

Alkhorayef stated that he was unaware of any discussions with Chile regarding its lithium licenses. The kingdom, heavily reliant on oil for its economy, has invested billions to become a hub for EV manufacturing as part of Crown Prince Mohammed Bin Salman’s economic diversification efforts.

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Chile’s SQM posts profit down 82% as lithium prices slide – ET Auto

Baua Electric

Chile’s SQM , the world’s second-largest lithium producer, on Wednesday posted an 82% fall in its fourth-quarter net profit from a year earlier, below forecasts as prices for the key battery metal continued to slide from earlier peaks. Revenue for the period fell 58% to USD 1.31 billion, also lagging LSEG’s USD 1.35

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It’s too late to China-proof the lithium supply chain – ET Auto

Baua Electric

Parts of our key supply chains, including for clean energy, are currently over-concentrated in China,” US Treasury Secretary Janet Yellen said earlier this month during a visit to Chile, home to the largest lithium reserves. the Charlotte, North Carolina-based miner whose processing plant Yellen visited during her trip to Chile.

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Rio Tinto to invest USD 350 million in Argentina lithium project – ET Auto

Baua Electric

Argentina, part of a so-called “ lithium triangle ” with Chile and Bolivia which holds half the world’s resources of the mineral, has increasingly attracted investment from international lithium miners. Rio Tinto said it is working with local communities and authorities to ensure environmental standards.

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India enters Argentina’s lithium market with INR 200 cr investment, eyes on rich lithium reserves – ET Auto

Baua Electric

Argentina is part of the “Lithium Triangle” along with Chile and Bolivia with more than half of the world’s total lithium resources and having the distinction of having 2nd largest lithium resources.

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