It is expected further growth in world consumption of lithium
Sociedad Quimaca y Minera de Chile — Chilean company producing lithium. It is the world’s largest manufacturer. Recently the company presented its quarterly report. It also contains forecasts for the near future. So, according to experts, will significantly increase demand for the metal. Growth will be 17% compared to last year. In other words, the demand will be at least 315 thousand tons. It is known that metal consumers are enterprises manufacturing batteries. These batteries are used in the creation of electric vehicles. Their popularity is growing rapidly. This also applies to telecommunications equipment.
The situation was commented Director General of the Chilean company. He recalled that was launched a number of new facilities. This has led to some reduction in prices on lithium. Situation was observed in the beginning of this year. However, the market of this metal spectacular vistas. The reason for this is the growth of demand for electric vehicles. It is known that many countries intend to switch completely to such transport. Because there are more manufacturers. Trying to use enterprise engaged in the production of lithium. Thus, everyone has to adapt and negotiate. It is possible that the metal will start to go up soon.
To date, the company has two major projects. Both are implemented in Chile. Scheduled to be completed in 2021. Thus, will increase production volumes of the enterprise. Production of lithium carbonate is about 120 thousand tons per year. Production of lithium hydroxide will reach 29.5 million tons. The company gave the nod to the sale of the company in Australia. Its share in Kidman Resources will go Australian Wesfarmers.