Posco will take part in the implementation of the Chilean lithium project

Posco is a Korean steel company. Earlier it was reported that it intends to participate in a new project. So it was planned to build three new lithium plant in Chile. The project was also attended by Samsung SDI and the American Albemarle. The last supplies of lithium. However, recently Posco has announced its withdrawal from the project. She planned to start production of batteries for electric vehicles. This is lithium hydroxide. Company Albemarle has been producing lithium carbonate. It is used for the production of batteries for mobile phones. Therefore, Posco sees no reason to participate in the project. With regard to Samsung SDI, she was still interested in him. Logical, because the company produces to smartphones and other gadgets.

The project started to be developed last year. The Chilean government has announced the tender. It was about the construction of three new businesses. Is the factories that will produce batteries. For this you would use the stocks with local lithium deposits. The output would be the value added products. The supply of lithium resources would be carried out at a reduced price. It was guaranteed for 27 years. In 2016, the authorities agreed with Albemarle. The company has enabled us to increase production of lithium. And it can be done it almost 3 times. However, there was one condition. At least 25% of the production goes to the local market. The company agreed to this.

All three plants would cost 754 million dollars. This is according to preliminary estimates. Construction of enterprises for the production of batteries has agreed to do another two companies. This is a Chinese company Sichuan Fulin Transportation Group and Chilean Molymet.