. 24/7 Space News .
ENERGY TECH
China's Tianqi raises profile as a top lithium supplier with stake in Chile's SQM
By Paulina ABRAMOVICH
Santiago (AFP) May 17, 2018

China's Tianqi boosted its position as one of the world's largest suppliers of lithium, a key component in batteries for the booming electric car industry, after it agreed to acquire a stake in Chile's SQM.

Tianqi Lithium will take a 24-percent stake in SQM in a deal worth $4.07 billion by buying up the shares owned by Canada's Nutrien, the companies announced Thursday.

SQM exploits what is considered the world's largest lithium deposit in Chile's northern Atacama desert, an area with high concentrations of lithium with low levels of impurity, as well as byproducts like potassium.

Global demand for lithium, on the rise since 2014, is expected to grow at rates of six to eight percent over the next decade.

Lithium is a key component in making batteries for electric cars, which according to the Boston Consulting Group will make up half of all the world�s car sby 2030.

China is already the world's biggest market for electric cars.

A relatively rare light metal, lithium is also used in other industrial applications.

With 52 percent of the world's reserves, Chile competes neck and neck with Australia for the global markets, with each accounting for close to 40 percent of the world's production.

Argentina, which increased its lithium production by 58 percent in 2016, has about 15 percent of the market.

Chile expects to nearly double its lithium production by 2021, from 77,000 tons in 2017 to 147,000, as US chemical company Albemarle and SQM expand their operations in the Atacama salt flats.

- 'Attractive investment' -

Listed on the Shenzhen stock exchange, the Chengdu-based Tianqi Lithium is one the world's biggest suppliers of lithium products, with operations in China and Australia.

"This is an attractive investment for Tianqi Lithium which fits well within our existing business strategy," Tianqi's president Vivian Wu said in a statement.

"Tianqi Lithium's shareholders will greatly benefit from this transaction given SQM's long-term stable financial returns and steady dividends."

The deal is expected to be completed by the fourth quarter of this year.

Once the transaction is finalized, the Chinese giant will not exercise control within SQM, Tianqi Lithium said in reference to fears raised in Chile over one the most emblematic groups in the South American country's mining industry.

"Although much anticipated, this is important news," Plusmining analyst Juan Carlos Guajardo told AFP.

"Tianqi's interest in acquiring SQM's capital was the most consistent, despite several episodes that caused great uncertainty."

Nutrien CEO Chuck Magro said the "sale of the majority of our SQM holdings marks another key integration milestone for Nutrien.

"With growing free cash flow, combined with the significant proceeds from this sale, Nutrien further enhances our balance sheet and liquidity, and places us in a strong position to execute on our capital allocation priorities."

After the announcement, SQM's share price was stable, up just 0.2 percent, on the Santiago Stock Exchange.


Related Links
Powering The World in the 21st Century at Energy-Daily.com


Thanks for being there;
We need your help. The SpaceDaily news network continues to grow but revenues have never been harder to maintain.

With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords.

Our news coverage takes time and effort to publish 365 days a year.

If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.
SpaceDaily Monthly Supporter
$5+ Billed Monthly


paypal only
SpaceDaily Contributor
$5 Billed Once


credit card or paypal


ENERGY TECH
New device could increase battery life of electronics by a hundred-fold
Columbia MO (SPX) May 17, 2018
Among the chief complaints for smartphone, laptop and other battery-operated electronics users is that the battery life is too short and - in some cases - that the devices generate heat. Now, a group of physicists led by Deepak K. Singh, associate professor of physics and astronomy at the University of Missouri, has developed a device material that can address both issues. The team has applied for a patent for a magnetic material that employs a unique structure - a "honeycomb" lattice that exhibit ... read more

Comment using your Disqus, Facebook, Google or Twitter login.



Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle

ENERGY TECH
Cement, extreme cold experiments head to space aboard Cygnus cargo ship

For how long will the USA remain the Nobel Prize leader?

Spinning science: multi-use variable-g platform arrives at the Space Station

The challenge of space gardening: One giant 'leaf' for mankind

ENERGY TECH
NASA's emerging microgap cooling to be tested aboard New Shepard

TDM Bridge Builder: Daniel Herman, Solar Electric Propulsion System Lead

SpaceX launches most powerful Falcon 9 yet

SpaceX launches most powerful Falcon 9 yet

ENERGY TECH
Sierra Nevada Corporation Hardware on NASA's Mars InSight Mission

Dorset as model to help find traces of life on Mars

Opportunity team continues studies on origin of 'Perseverance Valley'

NASA plans to send mini-helicopter to Mars

ENERGY TECH
Sunrise for China's commercial space industry?

Chinese rewrite record, live 370 days in self-contained moon lab

Space technologies to protect Shaolin heritage

China to Use Soviet Engine to Power Its First Reusable Space Rocket

ENERGY TECH
Australian Space Agency Lost In Canberra

In crowded field, Iraq election hopefuls vie to stand out

ESA selects three new mission concepts for study

China's communication satellites occupy niche in world market

ENERGY TECH
Keep the light off: A material with improved mechanical performance in the dark

Your body is transparentized in a virtual environment

Researchers use LiDAR to locate invasive fish and preserve a national treasure

Frequency-stable laser systems for space

ENERGY TECH
Orbital variations can trigger 'snowball states' on exoplanets

Scientists crack how primordial life on Earth might have replicated itself

Atmospheric seasons could signal alien life

ANU study sheds new light on how our solar system formed

ENERGY TECH
Old Data Reveal New Evidence of Europa Plumes

New views of Jupiter" showcases swirling clouds on giant planet

Fresh results from NASA's Galileo spacecraft 20 years on

What do Uranus's cloud tops have in common with rotten eggs?









The content herein, unless otherwise known to be public domain, are Copyright 1995-2024 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. General Data Protection Regulation (GDPR) Statement Our advertisers use various cookies and the like to deliver the best ad banner available at one time. All network advertising suppliers have GDPR policies (Legitimate Interest) that conform with EU regulations for data collection. By using our websites you consent to cookie based advertising. If you do not agree with this then you must stop using the websites from May 25, 2018. Privacy Statement. Additional information can be found here at About Us.