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Korean manufacturers target lithium investments in Chile with a view to the US

Korean manufacturers target lithium investments in Chile with a view to the US

Chilione of the heavyweights of the lithiumis attracting interest from South Korean battery makers interested in developing processing plants there, the head of a government agency said.

InvestChilethe South American country’s foreign investment promotion body, held meetings with representatives of multiple Korean companies, said the group’s executive director, Karla Flores.

Companies are interested in helping Chili to convert its vast reserves of semi-processed lithium into materials such as iron phosphate for rechargeable batteries, in part to supply the United States, he said.

One possibility is that Korean projects here export lithium cathodes to the United States“he said in an interview on Thursday in Santiago.

Chili wants to take advantage of the world’s largest lithium reserves to advance the value chain, and Asian companies are willing to partner.

Last year, Chili granted Chinese companies access to preferential prices for carbonate lithium produced by SQM, the world’s second largest lithium producer, for use in a cathode factory to be built in the north of the country.

Japanese companies have also been studying the possibility of investing in Chile’s lithium sector, Chilean Economy Minister Nicolás Grau said in October.

Unlike projects managed by China, the lithium processed by Korean companies in Chile may qualify for US incentives to diversify their clean energy supply chain. Chile has a free trade agreement with the United States

Source: Gestion

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