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☆ What Chile's state-led lithium policy means for the future of the electric vehicle industry
▼ + stars: | 2023-05-06 | by ( Katie Brigham | ) www.cnbc.com time to read: +9 min

The only two lithium companies currently operating in Chile are North Carolina-based Albemarle , the largest lithium producer in the world, and SQM , the No. Chile's lithium is of particular strategic importance to the U.S., which has a free trade agreement with the country but not with neighboring Argentina. The plan calls for the creation of a national lithium company to partner with all private businesses looking to enter the sector. Bags of battery-grade lithium carbonate at La Negra, Albemarle's lithium processing plant near Antofagasta, Chile. Lenny-Pessagno told CNBC in January that Albemarle supports the creation of a state-owned lithium company.

May 4 (Reuters) - Albemarle Corp (ALB.N) is open to renegotiating its Chile lithium contract before 2043 and would seek access to even more of the country's vast reserves of the metal used to make electric vehicle batteries, CEO Kent Masters told Reuters on Thursday. Albemarle and SQM's contracts only grant access to the Atacama salt flats, or salars, but Boric hopes to open up many other salars across his country for lithium production, a step that will require DLE technologies. Many DLE technologies use lots of potable water and electricity, a limitation that Albemarle has acknowledged and one it is working to limit. Chile and Albemarle could cement their dominant role in the global lithium and EV industries if they can get one or more DLE technology to succeed. Masters declined to comment on Australian lithium developer's Liontown Resources Ltd (LTR.AX) rejection in March of Albemarle's $3.7 billion takeover bid.

[1/2] Lithium evaporation ponds are seen at Albemarle Lithium production facility in Silver Peak, Nevada, U.S. October 6, 2022. REUTERS/Carlos BarriaMay 3 (Reuters) - Lithium producer Albemarle Corp (ALB.N) cut its annual profit forecast on Wednesday despite posting a better-than-expected quarterly earnings, citing softening prices for the metal used to make electric vehicle batteries. For the year, Albemarle cut its sales forecast to a range of $9.8 billion to $11.5 billion, from a prior forecast of $11.3 billion to $12.9 billion. The adjusted earnings forecast was trimmed to a range of $3.3 billion to $4 billion, from a prior $4.2 billion to $5.1 billion. Australian officials said earlier on Wednesday that Albemarle had agreed to spend $1 billion to expand lithium processing facilities in Western Australia.

☆ As lithium miners gear up for Q1 earnings, investors focus on tumbling prices
▼ + stars: | 2023-05-02 | by ( Arshreet Singh | ) www.reuters.com time to read: +2 min

Strong demand for EVs and limited supply of the metal pushed lithium prices to record levels in November last year, soaring more than ten-fold from early 2021. But a slump in demand for electric vehicles in China, the world's biggest market, left a stockpile of the metal and drove prices down. Lithium prices have fallen by at least a third in the first quarter, according to an index tracked by Benchmark Mineral Intelligence, raising concerns miners will see a hit to their bottomline. Though falling spot prices have raised red flags for investors over the long-term outlook of lithium miners, analysts believe spot prices will rise again as we get closer to the end of the year. In the long run, supply will continue to fall short of demand, which will help the miners, he added.

☆ Chile's lithium takeover plan faces technical, political challenges
▼ + stars: | 2023-04-28 | by ( Fabian Cambero | ) www.reuters.com time to read: +7 min

[1/3] A view of a brine pool of a lithium mine on the Atacama salt flat in the Atacama desert, Chile, August 16, 2018. REUTERS/Ivan Alvarado/File PhotoSANTIAGO, April 28 (Reuters) - While Chile's plan to take control of its lithium industry has caused global shockwaves, state-led production of the metal used to make electric vehicle batteries is seen by analysts as likely years away given technical and political challenges. CODELCO'S ROLEChile's state-run Codelco, the largest copper producer in the world, plays a key role in Boric's lithium plan although it has no experience in producing the white metal. The report noted that Argentina currently has more lithium projects in the pipeline than any other country in the world. Albemarle has said it needs new water sources to expand in Chile's Atacama salt flat, noting a desalination project was awaiting permits and construction.

☆ Chile, US miner Albemarle hold talks on lithium nationalization plan
▼ + stars: | 2023-04-25 | by ( ) www.reuters.com time to read: +2 min

[1/3] Lithium evaporation ponds are seen at Albemarle Lithium production facility in Silver Peak, Nevada, U.S. October 6, 2022. REUTERS/Carlos BarriaSANTIAGO, April 25 (Reuters) - Chile's state development office Corfo said on Tuesday it met with U.S.-based miner Albemarle (ALB.N) to discuss the South American country's plan to nationalize the lithium industry. Chile's leftist President Gabriel Boric last week announced that control of the country's vast lithium operations would over time be transferred from Albemarle and SQM (SQMA.SN) to a separate state-owned company. Chile has the world's largest lithium reserves. He added that Albemarle, the world's largest producer of lithium, wants to grow in Chile and in the Atacama salt flat with new technologies.

☆ Stocks making the biggest moves midday: Fox, Albemarle, First Republic and more
▼ + stars: | 2023-04-24 | by ( Pia Singh | ) www.cnbc.com time to read: +3 min

People walk by the News Corporation headquarters, home to Fox News, on April 18, 2023 in New York City. First Solar – Shares of the solar company lost 3.2% after a Citi downgrade to sell cited margin risks and concerns that Inflation Reduction Act benefits are already reflected in the share price. Medtronic — Shares added 4% during midday trading after being upgraded to overweight from equal weight by Wells Fargo on Sunday. Sunrun , Enphase Energy — Shares of Sunrun and Enphase Energy were higher Monday after Citi added positive catalyst watches on the solar companies, saying it sees further share gains. The Wall Street bank opened a 90-day positive catalyst watch on Enphase Energy, citing a strong backlog and expectations for record-high margins.

☆ Stocks making the biggest premarket moves: Coca-Cola, First Solar, C3.ai and more
▼ + stars: | 2023-04-24 | by ( Michelle Fox | ) www.cnbc.com time to read: +2 min

First Solar — Shares dropped 2.5% in the premarket following a downgrade by Citi to sell from neutral. Credit Suisse — U.S.-listed shares of the Swiss bank gained about 2% in the premarket. Credit Suisse said it experienced net asset outflows of 61.2 billion Swiss francs ($68 billion) during the first quarter. However, it reported 12.43 billion Swiss franc profit for the quarter thanks to the write-off of 15 billion Swiss francs of AT1 bonds. Albemarle — Shares of the mining company gained nearly 3% in premarket trading, trimming Albemarle's losses from last week.

SQM's lithium contract in Chile is set to expire in 2030 and Albemarle's in 2043, giving it more insulation from the potential move. Mexico nationalized its lithium deposits last year, and Indonesia banned exports of nickel ore, a key battery material, in 2020. SQM has a larger footprint in Chile, with 81,000 hectares (about 200,000 acres) for lithium extraction compared with Albemarle's 16,000 hectares. Argentine state energy firm YPF last year began exploring lithium, while Bolivia has long maintained strict control over its huge though largely untapped resources. Mexico's President Andres Manuel Lopez Obrador and Bolivia's Luis Arce have touted the idea of a regional lithium "OPEC" to coordinate on lithium policy and benefit local economies.

The move would see Chile, the world's second largest lithium producer, shift to a model with the state holding a controlling interest in all new lithium projects through a public company that would partner with private mining firms. Mexico nationalized its lithium deposits last year, and Indonesia banned exports of nickel ore, a key battery material, in 2020. In early trading on Friday, Chilean firm SQM's U.S.-listed shares slid 6.2%, while Albemarle was down 2.5%. SQM's lithium contract in Chile is set to expire in 2030 and Albemarle's in 2043, giving it more insulation from the potential move. Mining shares in London fell sharply too.

Jan 24 (Reuters) - Albemarle Corp (ALB.N) on Tuesday called for lithium prices to remain high indefinitely in order to help the mining industry develop new sources of the electric vehicle (EV) battery metal and fuel the green energy transition. Lithium prices have more than doubled in the past year and are up nearly ninefold in the past three years, according to an index tracked by Benchmark Mineral Intelligence. For 2023, Albemarle expects the price it receives for its lithium to jump 40% over 2022 levels. That should dip this year, due to rising costs for lithium chloride and spodumene ore - both key feedstocks - though the company expects lithium margins to eventually stabilize around 45%. Norris, a longtime lithium industry executive, repeatedly stressed during a nearly two-hour presentation that Albemarle will produce lithium when its customers need the metal.

☆ Lithium company Ioneer scores $700 million conditional loan from Energy Department for Nevada plant
▼ + stars: | 2023-01-13 | by ( Pippa Stevens | ) www.cnbc.com time to read: +1 min

Lithium company Ioneer said Friday that it's secured a conditional commitment for a loan of up to $700 million from the Department of Energy as the U.S. seeks to develop new supply chains for materials that are critical to the energy transition. Ioneer is developing the Rhyolite Ridge Lithium-Boron Project in Esmeralda County, Nevada. When fully operational, the site will produce enough lithium for 400,000 electric vehicles, the company said, while also producing boron. Ioneer's loan from the Department of Energy hinges on several conditions, including that the company receives all of the necessary permits. If approved, the loan, made under the Department of Energy's Advanced Technology Vehicles Manufacturing program, will be for Ioneer's on-site lithium processing facility.

☆ Albemarle's lithium sales surge amid rapid EV market growth
▼ + stars: | 2022-11-02 | by ( ) www.reuters.com time to read: +2 min

The results and forecast reflected a bullish outlook for the electric vehicle industry despite recent macroeconomic concerns and warnings of market softness from some rivals. Lithium sales more than quadrupled to $1.5 billion on higher prices and the opening of new processing plants. The company trimmed its 2022 sales forecast at the high end to $7.4 billion from $7.5 billion due to the weak bromine sales. Albemarle received a $149.7 million grant from U.S. officials last month to build a lithium processing facility in North Carolina. Charlotte, North Carolina-based Albemarle plans to hold a Thursday conference call with investors to discuss the quarterly results.

President Joe Biden last week doled out $2.8 billion to miners developing new U.S. sources of lithium, nickel, copper and other EV minerals, as well as battery parts manufacturers and recyclers. Those grants followed August's Inflation Reduction Act, which links EV tax credits to minerals extracted domestically or from 20 allies. "People have a misconception about how quickly we can get mines up and running given the U.S. permitting process," said Megan O'Connor, Nth Cycle's CEO. "Hopefully, they'll give us some help and fast track some of the permitting process," said Kent Masters, Albemarle's CEO. The yawning divide between America and China's approaches to funding the EV supply chain is now a top concern for many policymakers and their advisers in the nation's capital.

A sacks of lithium carbonate is seen at Albemarle Lithium production facility in Silver Peak, Nevada, U.S. October 6, 2022. The European Commission is weighing a proposal by the European Chemicals Agency (ECHA) that would classify lithium carbonate, chloride and hydroxide as dangerous for human health. Albemarle has been lobbying against the proposed rules, but believes that they're likely to be approved, Kent Masters, Albemarle's CEO, said in an interview. Albemarle had warned earlier this year that the regulations might force it to close a processing plant in Germany. Europe produces very little lithium and must import the metal to processing facilities such as Albemarle's.

☆ Inside the only lithium producer in the U.S., which provides critical mineral used in batteries by Tesla, EV makers
▼ + stars: | 2022-10-14 | by ( Pippa Stevens | ) www.cnbc.com time to read: +14 min

The town's mining roots are still on display, but the action has shifted to the country's largest lithium brine operation 45 minutes away. Specialty chemicals company Albemarle acquired the site in 2015 from Foot Mineral Company, and has owned it ever since. Under the International Energy Agency's most ambitious climate scenario, lithium supply will have to grow 40-fold by 2040 from today's levels. The U.S. used to be a leader in lithium production, but it's since ceded that position to foreign nations, including China. Albemarle's Silver Peak lithium plant spans 13,000 acres.

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