Bloomberg | January 15, 2024 |
Lithium brines are found in the middle of Chile’s Salar de Atacama and contain the world’s highest known concentrations of lithium and potassium. (Image courtesy of SQM.)
SQM, the world’s No. 2 lithium supplier, is resuming operations in northern Chile after the lifting of roadblocks by local communities, a company official said Monday.
The final blockades that had restricted the movement of workers and supplies for almost a week were cleared on Sunday as authorities look to ease community concerns over plans to ramp up output of the battery metal. That’s allowing the company to gradually return to normal, the official said.
Communities say they weren’t properly consulted in advance of a deal struck in late December between SQM and state-owned Codelco that would see production increase at the Atacama salt flat under the government’s new public-private development model. They’ve been pushing for President Gabriel Boric to visit the area.
Some groups had continued to protest over the weekend, despite an agreement reached late Friday by indigenous peoples council, CPA, to end the blockades.
Read more: Chile president praises Codelco, SQM lithium deal ensuring state control
While companies and authorities have indicated their intent to involve indigenous groups in decision making, the reaction to the deal underscores the challenge for Boric’s plan.
The SQM-Codelco partnership is a cornerstone of the president’s public-private model as the government prepares to open up new production areas at a time of rising global demand for the key component in electric-vehicle batteries. Chile has the most lithium reserves in the world, but has been losing market share since production is currently limited to just two operators.
SQM shares fell 11% in New York last week, the worst week since the government lithium policy was announced in April.
Communities agree to end roadblocks at Chile lithium operations
Bloomberg News | January 13, 2024 |
Protest by the Atacama Indigenous Peoples Council on January 10, 2023. (Image by the Consejo de Pueblos Atacameños, X.)
Indigenous communities in northern Chile agreed to lift roadblocks that have restricted access to the country’s giant lithium operations since Jan. 9.
Members of the the regional indigenous peoples council, known as CPA, said they reached an agreement late Friday.
The communities have been pushing for Chilean President Gabriel Boric or mining minister Aurora Williams to visit the area. They say they weren’t properly consulted in advance of a deal struck in late December between SQM, the world’s second-largest lithium producer, and state-owned Codelco that would see production increase at the Atacama salt flat.
A planned trip by Williams to meet with leaders earlier this week was postponed due to divisions within the CPA.
SQM said its operations had been disrupted by the roadblocks while Albemarle, which extracts lithium nearby, said it had been running normally despite transport snarls.
(By James Attwood)
Bloomberg News | January 13, 2024 |
Protest by the Atacama Indigenous Peoples Council on January 10, 2023. (Image by the Consejo de Pueblos Atacameños, X.)
Indigenous communities in northern Chile agreed to lift roadblocks that have restricted access to the country’s giant lithium operations since Jan. 9.
Members of the the regional indigenous peoples council, known as CPA, said they reached an agreement late Friday.
The communities have been pushing for Chilean President Gabriel Boric or mining minister Aurora Williams to visit the area. They say they weren’t properly consulted in advance of a deal struck in late December between SQM, the world’s second-largest lithium producer, and state-owned Codelco that would see production increase at the Atacama salt flat.
A planned trip by Williams to meet with leaders earlier this week was postponed due to divisions within the CPA.
SQM said its operations had been disrupted by the roadblocks while Albemarle, which extracts lithium nearby, said it had been running normally despite transport snarls.
(By James Attwood)
BYD in talks with Brazil’s Sigma Lithium on supply deal
Reuters | January 14, 2024
Stock image.
Chinese electric car-maker BYD has held talks with Brazil’s Sigma Lithium over a possible supply agreement, joint venture or acquisition, the Financial Times reported on Sunday.
BYD met Sigma chief executive Ana Cabral Gardner in Sao Paulo last month, BYD’s Brazilian chair, Alexandre Baldy, told the newspaper, but did not give details, citing a confidentiality agreement.
BYD and Sigma did not immediately respond to Reuters requests for comment.
Sigma said in January it had initiated a primary listing of Sigma Brazil on Nasdaq and the Singapore stock exchange.
BYD, backed by Warren Buffet’s Berkshire Hathaway, said in July it would invest 3 billion reais ($600 million) in a new industrial complex in northeastern Brazil, with operations expected to start in mid-2024.
($1 = 4.8539 reais)
(By Chandni Shah; Editing by Christian Schmollinger and William Mallard)
Reuters | January 14, 2024
Stock image.
Chinese electric car-maker BYD has held talks with Brazil’s Sigma Lithium over a possible supply agreement, joint venture or acquisition, the Financial Times reported on Sunday.
BYD met Sigma chief executive Ana Cabral Gardner in Sao Paulo last month, BYD’s Brazilian chair, Alexandre Baldy, told the newspaper, but did not give details, citing a confidentiality agreement.
BYD and Sigma did not immediately respond to Reuters requests for comment.
Sigma said in January it had initiated a primary listing of Sigma Brazil on Nasdaq and the Singapore stock exchange.
BYD, backed by Warren Buffet’s Berkshire Hathaway, said in July it would invest 3 billion reais ($600 million) in a new industrial complex in northeastern Brazil, with operations expected to start in mid-2024.
($1 = 4.8539 reais)
(By Chandni Shah; Editing by Christian Schmollinger and William Mallard)
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