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Start-Up MOBI LATAM partners with EnergyX to develop Bolivian domestic lithium battery supply chain

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Both companies will work towards creating a Bolivian domestic lithium battery supply chain to develop the region’s electric mobility market. Bolivia is lithium-rich; the USGS estimates identified lithium reserves in the country to be 21 million tons—ahead of Argentina and Chile, the other members of the “lithium triangle”.

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Hyundai brands sign lithium supply agreement with Chilean miner

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On Monday, June 17, 2024, Hyundai Motor Group brands, Hyundai Motors Companyand Kia Corporation, signed a lithium supply agreement with Chilean miner SQM Salar S.A. is a fully owned subsidiary of Socedad Quimaica y Miners de Chile S.A. It plans to boost output in Chile by up to 100,000 tons in 2025. SQM Salar S.A.

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Hyundai Motor Group signs MOU with SK On to secure EV battery supply for N America

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Hyundai Motor Group signed a memorandum of understanding (MOU) with SK On to secure a supply of EV batteries in North America. Under the MOU, both parties will cooperate to provide SK On batteries to the Group’s plants in the US after 2025 for the EV production. million full electric vehicles annually by 2030.

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SK On signs 5-year lithium hydroxide supply deal with SQM

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Battery manufacturer SK On signed a lithium hydroxide supply deal with Chile’s SQM, a move that will further strengthen SK On’s supply chain for critical battery materials in coping with the US “Inflation Reduction Act” (IRA) following its recent deals with Australian lithium developers. Earlier post.).

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Rio Tinto to acquire copper exploration assets and enter joint venture with Codelco in Chile

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ADLF), a company with exploration tenements in Chile’s prospective Atacama region, and to enter a joint venture with Corporación Nacional del Cobre de Chile ( Codelco ) to explore and potentially develop Agua de la Falda’s assets. Rio Tinto has agreed to purchase Pan American Silver’s stake in Agua de la Falda S.A.

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Compass Minerals signs non-binding agreement to supply LG Energy Solution with battery-grade lithium product starting in 2025

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Under the terms of the MoU, Compass Minerals would supply LGES with with a battery-grade lithium product from its lithium brine development project at its Ogden, Utah, solar evaporation facility. Securing key raw materials has become critically important, in order to maintain our lead position in the global battery market.

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S&P Global: US faces new challenges meeting increased demand for critical minerals spurred by IRA

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However, ensuring enough qualifying supply to meet that demand faces “considerable challenges,” according to a new analysis by S&P Global. Source: Inflation Reduction Act: Impact on North America Metals and Minerals Market Demand for copper will be 12% higher by 2035 than pre-IRA projections.

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