Chile opens up Atacama lithium deposits; Sibanye, JOGMEC in battery metals deals

THE BIG STORY

The focus on transitioning towards greener energy sources has intensified. Chile opened up five new lithium developments at the Salar de Atacama, each with a quota for 80,000 tonnes of lithium metal equivalent annually, which may unlock the country's vast lithium reserves and expand its global market influence. The new projects, which could take a decade to begin production, could contribute as much as 100,000 tonnes of lithium carbonate equivalent to the global market annually, increasing Chile's production by 71% above 2021 forecast levels, according to S&P Global Market Intelligence.

Platinum producer Sibanye Stillwater Ltd. expanded its foray into battery metals with its acquisition of the Santa Rita nickel mine and the Serrote copper mine in Brazil for US$1 billion and a 5% net smelter royalty, as well as a US$46 million investment in Australian zinc miner New Century Resources Ltd. This is on top of earlier deals with Eramet SA for the Sandouville nickel processing facility in France, as well as buying into Ioneer Ltd.'s Rhyolite Ridge lithium-boron project in Nevada.

Meanwhile, Japan Oil Gas and Metals National Corp, or JOGMEC, sees Queensland as a potential new source of cobalt extracted from copper waste, which could help bridge Australia's production gap behind the Democratic Republic of Congo. This week, JOGMEC entered into a partnership with the University of Queensland and the Queensland state government to examine whether critical mineral and battery ingredient cobalt can be retrieved economically from old copper mine tailings from the Rocklands project.

SPOTLIGHT

US lithium-ion battery imports spike amid scramble to address ethical risks

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Cooling iron ore, coal demand to dampen 12-year-high freight rates

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High fossil fuel prices a 'wake-up' call amid energy transition – US coal CEO

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US court questions authority on Rio Tinto/BHP's Resolution land swap deal

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RESEARCH

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POLICY & REGULATION

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PROJECTS & INFRASTRUCTURE

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OPERATIONS & STRATEGY

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