trending Market Intelligence /marketintelligence/en/news-insights/trending/kya4ctuuxynezmlcnsce8g2 content esgSubNav
In This List

Chilean regulator turns down Albemarle's bid to raise lithium output quota

Blog

Insight Weekly: US stock performance; banks' M&A risk; COVID-19 vaccine makers' earnings

Blog

Insight Weekly: LNG exports surge; investors unfazed by inflation; neobanks drive VC funding

Blog

Essential Metals Mining Insights November 2021

Blog

[Infographic]: 2021 World Exploration Trends


Chilean regulator turns down Albemarle's bid to raise lithium output quota

The Chilean Nuclear Energy Commission refused to lift Albemarle Corp.'s lithium production quota, saying the information the company provided was not sufficient to justify the increase, Reuters reported Oct. 7, citing a report by local newspaper La Tercera.

The company secured approval from Chilean development agency Corfo in March to increase production to between 120,000 and 140,000 annual tonnes of lithium from the originally approved 65,000 to 80,000 tonnes.

A lawyer for the Chilean state agency that oversees lithium mining in the Atacama salt flat said the agency has to decide whether to take Albemarle to arbitration in a contract dispute.

A lawyer for Corfo said Albemarle failed to answer queries about a contract the agency signed with the company in 2016, which grants it rights to extract lithium from the salar.