Chile Offers Manufacturing Incentives To Promote The Development Of Lithium Products - Government - Chile Law Articles in English - Mondaq Business Briefing - Books and Journals - VLEX 679269589

Chile Offers Manufacturing Incentives To Promote The Development Of Lithium Products

Author:Mr Rafael Vergara
Profession:Carey
 
FREE EXCERPT

The Chilean Economic Development Agency, Corfo, and the Foreign Investment Promotion Agency, InvestChile, have announced the opening of the first call for national and foreign companies, to express their interest in manufacturing lithium products, such as battery cathodes and electrolytes. Companies that are selected will be guaranteed 25 per cent of US producer Albemarle's lithium production at the lowest cost available in the market. Currently, there are only two companies that extract lithium in Chile, Albemarle and Sociedad Química y Minera de Chile (SQM).

Chile has the largest lithium carbonate reserves in the world with exports representing over 40% of worldwide production by volume. In 2016, Chile exported 80 thousand tons of lithium carbonate equivalent (LCE) for a total of USD 589 million. By 2035, Chile is expected to export 300 thousand tons of LCE annually. Located in northern Chile, the...

To continue reading

REQUEST YOUR FREE TRIAL