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Chile shortlists 7 companies for lithium development

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Chile shortlists 7 companies for lithium development

Chilean state development agency Corfo shortlisted seven companies to develop value-added lithium projects in the country, Reuters reported Aug. 8.

The state agency invited bids in March, and 12 companies from seven countries submitted bids for the tender offer to develop value-added lithium products in Chile, Eduardo Bitran, Corfo's executive vice president, said in July.

According to the latest report, South Korea's Samsung SDI, Russia's TVEL/Rosatom, Chile's Molymet and China's Gansu Fulin Group, Jiangmen Kanhoo Industry Co. and Gansu DET Co. have made it to the next phase of the bidding process.

The process should be finalized in January 2018, and more than one winner could be picked, Bitran said.

Projects resulting from the process are expected to start up in 2019, according to Corfo.

The winning bidder will be able to access 25% of Albemarle Corp.'s annual production at a preferential price as part of an agreement reached with Corfo.