it has the largest lithium reserves in the world. The element has recently gained in importance in the face of the green transformation and the departure from internal combustion cars in favor of electric cars. Lithium is a “must have” in the production of electric vehicles – it is found in batteries. The Chinese also know this and have joined the “Latin American lithium rush” and want to secure as much supply as possible.
Chinese automotive giant wants Chilean lithium
Bloomberg reports that the Chinese company BYD (a tycoon on the market) is in talks with the Chilean authorities and local companies (including Sociedad Quimica y Minera – SQM, a Chilean chemical company and the world’s largest lithium producer) on the new mining technology. The Chinese want to extract lithium using resins directly from Chilean salt flats. Currently, the process consists in pumping huge amounts of brine and storing it in the so-called brine tanks. settling tanks for a year or more. The new technique would be adapted to Chilean conditions.
– BYD is ready to introduce advanced DLE to Chile. We will also develop R&D patents locally and offer free patents to the Chilean government to help Chile grow this industry,” Executive Vice President Stella Li told Bloomberg. And development is very much needed. The lithium market may experience a collapse in supply due to the development of electric motorization. More than $51 billion in investment is needed to meet future demand, according to Benchmark Mineral Intelligence. BYD is also working on a cathode plant in Chile.
Chinese with plans also in Brazil
BYD also works in . – We have a small project on the mining side there and we are working hard to try to mine more reserves Stella Li said. However, the company does not cooperate with any partners there. “We want to do it ourselves,” she said. In Brazil, the company is also building its first electric car factory outside of Asia as part of the plan to create a regional center for production and innovation.
Source: Gazeta
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