Latest news with #litio
Times of Oman
06-07-2025
- Business
- Times of Oman
Argentina lithium reserve "great interest" to India: MEA
Buenos Aires: The Ministry of External Affairs on Saturday (local time) emphasised India's great interest in Argentina's lithium reserve, noting Indian public sector companies are "working out the implementation of the investments" in the Latin Amercian country to produce, refine, and export minerals. Addressing a press conference, MEA's Secretary (East) P Kumaran noted the efforts of Coal India Limited and Khanij Bidesh India Limited to pick up critical minerals assets in other countries for India. "Argentina is a part of the Lithium Triangle. It is of great interest to us. We had two Indian public sector companies, Coal India Limited and a consortium called KABIL, which is specifically tasked with picking up critical minerals and assets outside India. They have signed five concession agreements and are working on finalizing investments and working out the implementation of the investments in such a way that minerals can be produced here, refined and taken to India for various purposes and are working on finalising investments to implement them in a manner that allows minerals to be produced, refined, and exported," Kumaran said. MEA's Secretary East also noted that two private sector companies owned by Indians have also invested in lithium concession in Argentina and hoped for more cooperation between the two nations. "There are two private sector companies: one from India, called Greenco, and another Indian-owned company based in the UAE, World Metal Alloys, which is also invested in lithium concessions in Argentina. Hopefully, we will have more cooperation in the coming years," Kumaran said. During his visit to Argentina, Prime Minister Narendra Modi discussed cooperation in the energy and critical minerals sectors with Argentine President Javier Milei, underlining India's growing energy and industrial needs while emphasising that Buenos Aires can serve as a "reliable partner." MEA's Secretary (East) Kumaran emphasised that Argentina's rich reserves of critical minerals, such as lithium, copper, and rare earth elements, align with India's need for its clean energy transition and industrial growth. "The two leaders also had an opportunity to discuss cooperation in the energy and critical mineral sectors. The Prime Minister underlined India's growing energy and industrial needs and emphasised that Argentina could serve as a reliable partner in supporting India's developmental journey," Kumaran said. "Argentina's rich reserves of critical minerals, including lithium, copper and rare earth elements, align with India's need for secure and sustainable resources to drive its clean energy transition and industrial growth," he added.
Reuters
04-07-2025
- Politics
- Reuters
Bolivian congress brawls over China, Russia lithium deals
LA PAZ, July 3 (Reuters) - Bolivia's energy minister was doused with water and pelted with garbage on Thursday as chaos erupted in congress during a debate on controversial lithium contracts with Chinese and Russian firms that could bring in investments worth some $2 billion. It was the latest outburst of growing tension over Bolivia's efforts to fast-track foreign investment to exploit its lithium reserves, which are among the largest in the world. Opposition lawmakers and others loyal to former President Evo Morales disrupted the lower house session that targeted Energy Minister Alejandro Gallardo as he tried to defend the pending contracts. "They are trying to swindle us," said opposition lawmaker Daniel Rojas, one of those opposing the contracts they say are unfavorable to the state, and demanding that profits for Bolivia be secured before the lithium is sold. Thursday's session devolved into scuffles, with lawmakers pushing, shouting and throwing stacks of paper at congressional leaders. Video images showed an opposition lawmaker, Maria Salazar, tussling with another member, while a lawmaker later tore away an umbrella from a chamber leader using it to try and bat away the barrage. Legislators and civic leaders from the mineral-rich Potosi region, home to Bolivia's vast lithium deposits, joined the protest. "We warn (President) Luis Arce, (and) the leader of the lower house, if you continue insisting on this illegal and unconstitutional process, you will be met with a mobilized population," said opposition lawmaker Lissa Claros. Protesters said they feared the deals would not benefit local communities and would cause environmental damage. "We want conditions so that the local people ... can have a dignified life," said Alberto Perez Ramos, president of the Potosi Civic Committee (COMCIPO). "The government isn't interested in that; the government is only interested in its own pockets."
Yahoo
02-07-2025
- Business
- Yahoo
CChEN approves Codelco's subsidiary to extract lithium in Salar de Atacama
The Chilean Nuclear Energy Commission (CChEN) has authorised Minera Tarar, a subsidiary of Codelco, to commence lithium extraction in the Salar de Atacama from 1 January 2031. The decision is pivotal for the operational continuity of the anticipated joint venture between Codelco and SQM. Minera Tarar has been granted an initial maximum extraction of 2.5 million tonnes (mt) of lithium metal equivalent (LME) over 30 years, potentially increasing to 3.01mt of LME. This is contingent upon the submission of an updated resource evaluation report and obtaining the necessary Environmental Qualification Resolution. The approval from CChEN ensures that the future partnership can operate without interruptions in lithium production and commercialisation once the current SQM Salar contract ends in 2030. To facilitate operational viability, CChEN has also sanctioned the advancement of part of the extraction quota from 1 January 2029, to mitigate production lags due to the natural delay between brine extraction and lithium marketability. Codelco chairman of the board Máximo Pacheco stated: 'The approval of this request by the CChEN is excellent news for Chile. It represents a key step forward in ensuring the operational continuity of the new public-private partnership we are promoting with SQM.' The development complements other recent regulatory approvals in Chile and internationally, furthering the fulfilment of the preconditions for the Codelco-SQM partnership agreement. In a related development, Rio Tinto has entered binding agreements with Codelco to form a joint venture for the Salar de Maricunga lithium project in Chile, with a planned investment of up to $900m. Rio Tinto will acquire a 49.99% stake in Salar de Maricunga, the entity holding Codelco's licences and mining concessions, by financing studies and development costs. "CChEN approves Codelco's subsidiary to extract lithium in Salar de Atacama" was originally created and published by Mining Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Bloomberg
01-07-2025
- Business
- Bloomberg
Chile Lithium Expansion Cleared by Little-Known Nuclear Agency
A little-known nuclear agency signed off on a proposal that clears the way for a major lithium expansion over the coming decades in Chile, the nation with the biggest reserves. The Chilean Nuclear Energy Commission, or CCHEN by its Spanish initials, approved a request by Codelco for extraction at the Atacama salt flat operation — currently controlled by SQM — from 2031 to 2060.
Reuters
25-06-2025
- Business
- Reuters
Chilean lithium miner SQM begins laying off 5% of local workforce
SANTIAGO, June 25 (Reuters) - Chilean lithium miner SQM ( opens new tab has begun laying off workers in its Chilean operations, according to a union memo to workers seen by Reuters on Wednesday. A union source said the dismissals would amount to 5% of its workforce nationwide. SQM employs 8,344 people in Chile and elsewhere, with three-quarters working at the northern Chile operations where it extracts lithium, a key battery metal. SQM declined to comment.
