Chile pushing Albemarle to release lithium reserves data – Reuters

Chilean nuclear agency CCHEN told Albemarle Corp. to present a plan on turning over data on the miner's lithium reserves in the South American nation by the end of the week or face legal action, Reuters reported Jan. 8 citing filings obtained by the news wire.

The Charlotte, N.C.-headquartered miner secured an increased lithium quota from the Chilean government in 2016, allowing it to produce 70,000 tonnes per year of technical and battery grade lithium carbonate and 6,000 tonnes per year of lithium chloride for 27 years.

According to a Jan. 4 letter obtained by the newswire, CCHEN said Albemarle failed to provide enough data on lithium reserves, more than a year since the regulator requested the data.

Albemarle had sought to keep parts of the reserves data confidential, deeming the information as "commercially sensitive" but the regulator rebuffed the miner's arguments. Market observers, however, are speculating over the lithium available to miners, as the salt flat is key in meeting an expected surge in demand for the metal for use in electric vehicle batteries.

The disagreements between CCHEN and Albemarle started in late 2019, when the miner submitted reports describing its lithium reserves. CCHEN questioned the methodology and conclusions, but Albemarle refused to add details, citing U.S. SEC regulations that block it from doing so.

CCHEN is partly reliant on miners to disclose data on the Atacama salt flat. The lithium quota increase agreement requires Albemarle to comply with its conditions, including the disclosure of the reserves, or risk the suspension of its lithium export license, according to the report.