The United States and Japan have agreed to jointly develop rare earths, lithium, and copper through the participation of companies from both nations in joint projects, such as the Japanese firms Mitsubishi Materials and Mitsui & Co.

 

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According to information published Tuesday in the Nikkei business daily, projects include “a rare earth refining operation in Indiana and the development of a lithium mine in North Carolina.”

The initiative represents a new effort by the countries “to secure supply chains for critical minerals,” which are key in the defense technology sector, as well as in semiconductors and renewable energy components.

M.Pino

Source: investing

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Brazilian President Luiz Inácio Lula da Silva and Indian Prime Minister Narendra Modi sealed a crucial cooperation and investment agreement for the exploration of critical minerals.

The agreement aligns with New Delhi’s “Critical Minerals Mission,” which exempts the import of 25 essential minerals from tariffs and aims to guarantee the supply of raw materials such as rare earth elements, lithium, and niobium.

During his meeting with Modi in New Delhi, Lula stated: “Increasing investment in cooperation on renewable energy and critical minerals is at the heart of the pioneering agreement we have signed today. Our countries are securing the rightful place for these technologies on the global climate and energy agenda.”

For their part, Indian companies will have access to various mining assets in Brazil and will be able to import raw materials free of charge.

In addition to this agreement, the two nations signed nine other related pacts and memoranda in strategic areas such as digital cooperation and equitable access to medicines.

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Source: notitarde

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According to the Latin American Energy Organization (Olade), Latin America and the Caribbean will have to double its copper production and tenfold its lithium production over the next 20 years to meet global demand for these two minerals essential for the energy transition and achieve the global goal of net-zero carbon emissions by 2050.

This is the result of a Study on the Situation of Critical Minerals Needed for Energy Transitions Processes in Latin America and the Caribbean, which was released on Thursday.

The production of critical minerals in Latin America is currently about US$ 180 billion, representing 25 % of the global market, which is about US$ 700 billion.

The most important minerals are copper, with $ 70 billion; iron, with $ 50 billion; gold, with $30 billion; and silver, with $10 billion. Currently, Latin America has 45 % of world copper production and 38% of reserves, as well as 29 % of global lithium production and 61 % of reserves.

It also has 48 % of world silver production and 39 % of silver reserves, and 38 % of molybdenum production and reserves.

Chile, Peru and Mexico: leaders in copper production By country, Chile is the world’s largest producer of copper, the second-largest producer of molybdenum and the third-largest producer of lithium, while Peru is the world’s second-largest producer of copper, tin and zinc, and the third-largest producer of silver. In addition, Mexico is the world’s largest producer of silver and Brazil is the third-largest producer of iron.

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Source: Bancaynegocios

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The Chemical and Mining Society of Chile (SQM) recorded a net profit of 585.5 million dollars in the 2021 financial year, which means multiplying by more than three times the profits recorded a year earlier, as reported by the company in its income statement.

The group’s CEO, Ricardo Ramos, explained that the good performance of 2021 is mainly due to the rise in commodity prices and a greater demand for lithium in the global market of approximately 55 %.

“We believe that demand for electric vehicles more than doubled globally last year compared to 2020, with China accounting for around 50 % of electric vehicle sales worldwide,” Ramos explained.

Increase in sales volumes

The higher sales volumes and prices of raw materials boosted the turnover of the lithium producer by 57.5%, to 2,862 million dollars. Revenues grew in the production of lithium and derivatives (+144 %), fertilizer products (+29.5 %), iodine and derivatives (+31 %) and potassium chloride and sulfate (+99 %).

The costs associated with production stood at 1,558 million dollars, 38 % more; resulting in a gross result of 1,090 million dollars, more than double that of 2020.

The CEO of the company has underlined that SQM expects to continue growing in lithium production, for which the board has approved a plan of 250 million to increase SQM’s capacity to 210,000 metric tons of lithium carbonate and 40,000 tons of lithium hydroxide.

Source: dpa

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