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A recent study from the University of Michigan has shed light on a critical challenge facing the global transition to electric vehicles: the inability of copper mining to keep pace with the growing demand.
Chilean mining company SQM, the world's second-largest lithium producer, expects to meet a May 31 deadline to finalise a joint venture with state-run miner Codelco, SQM's CFO, Gerardo Illanes, said on Thursday. Some analysts had cautioned the deal could be delayed after an earlier deadline was extended two months due to complexities in the negotiation, and flagged a high-profile dispute between SQM and shareholder Tianqi Lithium as a risk.
For Immediate Release SQM REPORTS EARNINGS FOR THE THREE MONTHS ENDED MARCH 31, 2024 ...
Chilean mining company SQM, the world's second-largest lithium producer, on Thursday posted a net loss of $870-million for the first three months of the year, as oversupply of the metal needed for electric vehicle batteries drags on prices. This brought a loss of $3.04 per share, well below the $0.74 profit expected by analysts polled by LSEG, while revenues more than halved to $1.09-billion over January to March, below analysts' $1.13-billion forecast.
Document UNITED STATES SECURITIES AND EXCHANGE...