Chile’s SQM says lithium industry needs at least $10 bln investment over 10 yrs

The global lithium industry will need $10 billion – $12 billion investment over the next decade to meet growing demand for the metal on the back of the electric vehicle boom, Chilean lithium miner SQM says. Demand is set to grow by 600,000 – 800,000 tonnes of lithium carbonate equivalent over the next 10 years, Daniel Jimenez, senior commercial vice president at SQM, tells the Metal Bulletin Battery Materials Conference in Shanghai.

“So a lot of capital needs to be put on the table for this to materialise, which is a challenge,” Jimenez told the Metal Bulletin Battery Materials Conference in Shanghai.

“Some original equipment manufacturers, such as battery producers and some car manufacturers, have started to get involved in lithium projects, financing or co-financing the development,” he added, citing Toyota Motor Corp and Great Wall Motor as examples.

“This is a trend we will probably continue seeing because there is a legitimate concern on the side of the vehicle manufacturers” over the reliability of supply sources, Jimenez said. In addition, the lithium industry “has shown a poor track record of delivering projects on time,” he added.

FULL ARTICLE: Chile’s SQM says lithium industry needs at least $10 bln investment over 10 yrs

FULL ARTICLE: Chile’s SQM says lithium industry needs at least $10 bln investment over 10 yrs (Update 1)