Market Chatter: Sociedad Quimica y Minera de Chile, Codelco Push Direct Lithium Extraction Project in Chile

MT Newswires Live05-27

Sociedad Quimica y Minera de Chile (SQM) and Codelco plan to invest around $3 billion to implement direct lithium extraction technologies at their Novandino Litio venture in Chile's Atacama Desert, Bloomberg reported Wednesday.

The partners aim to use direct lithium extraction technology at the Salar Futuro project to boost lithium recovery and reduce environmental impacts, with an environmental study expected to be submitted in June, according to the report.

Pending approvals and a final investment decision, construction is expected to begin near the end of the decade, with full implementation planned by the mid-2030s, Bloomberg added.

Sociedad Quimica y Minera de Chile didn't immediately respond to a request for comment from MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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