London Metal Exchange and Fastmarkets to set lithium price benchmark
The exchange will work Fastmarkets to provide the reference price lithium, a key component in the batteries that power electric vehicles and high-tech devices.
The company's proposed production facility at Kwinana, near Perth in Western Australia, would manufacture battery graphite worth $72 million a year for export.
Tianqi last December bought a 23.8 percent share in SQM from Canadian fertilizer company Nutrien for $4.1B, the largest deal in history for a lithium asset.
According to Sweden's Deputy Minister of Foreign Trade and Promotion, the country has become lithium-thirsty due to an increase in demand for electric cars.
While Australia-based Lynas cannot match China's rare earth processing capability, it is hoping that its role as the largest rare earth miner and the largest processor outside of China will help it forge new relationships and fuel expansion projects.
Geomega Resources is improving its proprietary ISR technology as it moves closer to being Canada’s first rare earth elements recycler and the only one outside China.