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Sqm

All articles tagged with #sqm

business2 years ago•1 min saved

"Chile's SQM Resumes Lithium Operations as Roadblocks End"

Chile's SQM, the world's second-largest lithium producer, has suspended operations at the Atacama salt flat due to road blockades by indigenous groups, affecting the world's largest lithium deposit. The protests were sparked by an agreement that indigenous leaders said sidelined local communities, and while the Atacama Indigenous Council announced an end to the occupation after promises of dialogue, it remains unclear if protesters have left the area.

via Reuters.com|

#atacama-salt-flat #business #chile

business2 years ago•1 min saved

Lithium Market Faces Double Whammy: Supply Storm and Weakening Demand

Albemarle, SQM, and Livent, three major lithium miners, experienced significant losses in Monday's trading as concerns over declining near-term demand and oversupply continue to put pressure on lithium prices. Factors contributing to the drop include downside guidance from ON Semiconductor, a cut in sales forecast by battery maker Panasonic, and a downgrade of Chinese lithium miner Tianqi Lithium. Analysts predict a period of earnings and margin pressure in the lithium market, with a potential destock downstream to clear inventory overhang.

via Seeking Alpha|

#albemarle #business #declining-demand

business2 years ago•3 min saved

Chile's Lithium Nationalization Plans Spark Industry Concerns and Opportunities.

Chile plans to start talks with SQM over its lithium operations in the Atacama to convince the world's No. 2 lithium mining company to sign onto a state-led public-private model. The state miner Codelco will start talks over public-private lithium production "as soon as possible." The strategy includes a new national lithium company, which congress must approve, but the government believes Codelco has the "capacity to assume new challenges" as well as the "scale and know-how" to deal with lithium.

via Reuters|

#business #chile #codelco

business2 years ago•2 min saved

Chile's push for state control sends lithium stocks tumbling.

Chile, the world's second-largest lithium producer, plans to nationalize the sector over time, with the state holding a controlling interest in all new lithium projects through a public company that would partner with private mining firms. The move reflects a wider wave of lithium nationalism around Latin America, posing a fresh challenge to electric vehicle manufacturers scrambling to secure battery materials. Shares in Chile's top two lithium miners, SQM and Albemarle, slid on Friday in response to the announcement.

via Reuters|

#albemarle #business #chile

business2 years ago•2 min saved

Chile's Nationalization Plan Sends Lithium Stocks Tumbling.

Chilean President Gabriel Boric announced plans to nationalize the lithium industry, causing stocks of major lithium extraction companies SQM and Albemarle to fall. The plan involves seeking approval from the Chilean Congress for new public-private partnerships with state control for mining lithium, while existing contracts won't be canceled. Lithium prices have already been falling, and Deutsche Bank analyst Corinne Blanchard expects a modest lithium surplus in 2023 amid a boost to expectations for Chinese output.

via Investor's Business Daily|

#albemarle #business #chile