Explore Chile's latest expansion in the lithium market with six new extraction sites, presenting unique investment opportunities and sustainable development strategies for global battery advancements.
On April 20, the Chilean government announced its new lithium strategy, which plans to give control of the country's lithium industry to the state.
Currently, the primary players in Chile's lithium industry are SQM, accounting for approximately 65% of production, and Albemarle, holding 35%. Both companies operate in the Salar de Atacama, where they control 34% of the world's lithium supply, equivalent to approximately 44 000 tons.
How can lithium production be sustainable in Chile?
The first objective is to ensure the “sustainable development of lithium production potential” in Chile. This involves increasing lithium production sustainably, both in existing operations in the Atacama salt flat and in other salt flats, by establishing conditions for exploration and extraction projects.
Where are Chile's lithium batteries coming from?
At the centre of the strategy is the jewel in Chile's lithium crown, the Salar de Atacama salt flats in the north, where the battery material is extracted from brine through evaporation ponds. But the groups operating there have already begun looking further afield.
Which Chilean centers are focusing on developing lithium technologies?
Another Chilean center focused on developing lithium technologies is the Advanced Mining Technology Center (AMTC), located at the University of Chile. Research has been focused on new sustainable technologies for lithium brine processing and direct LiOH production.
For a nation rich in the lithium reserves desperately needed to support the pace of the energy transition, it is critical that Chile adopt strategies that help meet global demand, maximize the benefits for its people, and protect the environment. The world needs lithium—a lot of it—for batteries in electric vehicles (EVs) and electricity storage.