{"id":1950756,"date":"2023-06-19T07:43:01","date_gmt":"2023-06-19T11:43:01","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/chiles-codelco-must-kick-start-lithium-industry-while-reviving-copper-output\/"},"modified":"2023-06-19T07:46:03","modified_gmt":"2023-06-19T11:46:03","slug":"chiles-codelco-must-kick-start-lithium-industry-while-reviving-copper-output","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/chiles-codelco-must-kick-start-lithium-industry-while-reviving-copper-output\/","title":{"rendered":"Codelco of Chile needs to boost lithium sector and revive copper production."},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">24<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fchiles-codelco-must-kick-start-lithium-industry-while-reviving-copper-output%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1950756&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div class=\"entry-content\">\n<p><strong>Chilean President Gabriel Boric has an ambitious plan to boost the country&#8217;s lithium industry<\/strong><\/p>\n<p>SANTIAGO (Reuters) \u2013 Chilean President Gabriel Boric, seeking to expand the country\u2019s long-stalled lithium industry, has tasked state-owned Codelco, the world\u2019s largest copper producer, to lead the charge of developing the white metal needed for electric vehicle batteries.<\/p>\n<div id=\"div-gpt-ad-1663871513696-art-1\" style=\"min-width: 320px; min-height: 50px;  text-align: center;\">  \t<script>  \t\tgoogletag.cmd.push(function() { googletag.display('div-gpt-ad-1663871513696-art-1'); });  \t<\/script>  <\/div>\n<div class=\"ad-slot__ad-label\">Advertisement<\/div>\n<\/p>\n<p>Chile is already the world\u2019s No. 2 producer of lithium after Australia. But demand is exploding worldwide as automakers gear up to churn out electric vehicles to <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/food-expert-americans-must-drastically-reduce-eating-meat-and-dairy-to-save-climate\/\" title=\"Food Expert: Americans Must \u2018Drastically Reduce\u2019 Eating Meat And Dairy To Save Climate\">cut greenhouse gas emissions<\/a>. The country sits on top of the world\u2019s largest known deposits of lithium and Boric\u2019s announcement in April gave Codelco responsibility for negotiating deals with new companies as well as current lithium miners Albemarle and SQM.<\/p>\n<p>The goal is to get the companies to <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/chiles-codelco-must-kick-start-lithium-industry-while-reviving-copper-output\/\" title=\"Codelco of Chile needs to boost lithium sector and revive copper production.\">enter voluntary state-controlled partnership<\/a> before their existing contracts expire. At the same time, Codelco wants to boost its output of copper which has slumped to its lowest in a quarter-century.<\/p>\n<p>Some analysts have questioned whether the copper company with no experience as a lithium miner can tackle both challenges at once. But industry insiders told Reuters Codelco will probably focus its own resources on copper while negotiating contracts for lithium operations and letting other miners do the work.<\/p>\n<p>\u201cIt could be Codelco only contributes capital,\u201d said one of the sources with knowledge of executive decision making, a strategy which could see the state firm hold a majority stake in future projects but leave operations to private partners.<\/p>\n<p>Chile could end up recreating the model Indonesia used with Freeport-McMoRan, where the firm gave up majority control to the state but remained the operator, a former Codelco senior executive said.<\/p>\n<p>\u201cCodelco can resolve the lithium issue with relatively few people,\u201d added the person, who asked not to be named due to the sensitivity of the ongoing talks. \u201cCodelco may have 51% but I don\u2019t think it will be the operator.\u201d<\/p>\n<p>Lithium, evaporated from brine ponds in Chile\u2019s high-altitude salt flats, is coveted by Tesla, BMW and every other global car maker. It is also sought by governments from Berlin to Beijing, that need it to power the shift to renewable energy.<\/p>\n<p>Two Codelco sources with knowledge of resource planning and strategy said the lithium units were being run by compact teams and there was no plan for major hiring as talks with SQM and Albemarle moved forward.<\/p>\n<p>The sources said the lithium strategy was being led by executives including Jaime San Martin, manager of new business development, known by some within Codelco as \u201clithium man\u201d. Finance VP Alejandro Rivera is also closely involved.<\/p>\n<p><strong>Balancing Copper and Lithium<\/strong><\/p>\n<p>Codelco Chairman Maximo Pacheco told Reuters that while the firm had set up two lithium subsidiaries Salares de Chile and Minera Tarar, it would first see how talks went before making any recruitment drives.<\/p>\n<p>\u201cBased on that and the progress of the negotiations we\u2019re having to build these public-private alliances, we\u2019re going to define the organization of human and capital resources,\u201d he said on the sidelines of an event near capital Santiago.<\/p>\n<p>Codelco has already started talks with SQM, whose existing lithium contract expires in 2030. Albemarle has said it is waiting to begin negotiations until closer to its contract\u2019s expiration date in 2043.<\/p>\n<p>Pacheco and other executives said lithium plans would not weigh on copper, but outside experts were skeptical.<\/p>\n<p>Juan Carlos Guajardo, head of consultancy Plusmining, said building up Codelco\u2019s lithium expertise from almost zero would nonetheless take up resources.<\/p>\n<p>\u201cThe agreements will require high involvement of top management as they are strategic decisions,\u201d Guajardo said. \u201cBut I think lithium is an excellent opportunity for Codelco to help them navigate their very difficult copper situation.\u201d<\/p>\n<p>Codelco must also revive production of the red metal that has flagged to a 25-year low. Challenges keep mounting as the Andre Sougarret, the company\u2019s CEO, suddenly resigned last Tuesday, citing \u201ccomplexities\u201d within the company.<\/p>\n<\/p>\n<p> (Reporting by Fabian Andr\u00e9s Cambero; Editing by Alexander Villegas, Adam Jourdan and David Gregorio)<\/p>\n<p><a href=\"https:\/\/www.oann.com\/uncategorized\/chiles-codelco-must-kick-start\/attachment\/a-view-of-a-brine-pool-of-a-lithium-mine\/\"><\/a><\/p>\n<p><a href=\"https:\/\/www.oann.com\/uncategorized\/chiles-codelco-must-kick-start\/attachment\/a-general-view-shows-the-brine-pools-of-albemarle-chile-2\/\"><\/a><\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>After Bill Gates met with China\u2019s Xi Jinping, Antony Blinken\u2019s meeting comes amid rising tensions and China\u2019s plans to spy on the U.S. from Cuba.<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>California proposes taking so-called affirmation of a child\u2019s gender identity into account in child custody disputes. Here\u2019s One America\u2019s Sam Valk with more.<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>This week has been filled with major headlines in the US and around the world. One America\u2019s Rachel Acenas has more in our Week in Review.<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>Guggenheim Baseball Management, which owns the Los Angeles Dodgers, is going ahead with their salute to the Sisters of Perpetual Indulgence. <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>By Friederike Heine and Supantha Mukherjee BERLIN\/STOCKHOLM (Reuters) -The German government and Intel are expected to ink a deal over the U.S.\u2026 <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>By Friederike Heine and Supantha Mukherjee BERLIN\/STOCKHOLM (Reuters) -The German government and Intel are expected to ink a deal over the U.S.\u2026 <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>By Philip Blenkinsop BRUSSELS (Reuters) \u2013 The European Commission will unveil on Tuesday possible measures, such as screening of outbound investments and\u2026 <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>By Philip Blenkinsop BRUSSELS (Reuters) \u2013 The European Commission will unveil on Tuesday possible measures, such as screening of outbound investments and\u2026 <\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Chile&#8217;s President Gabriel Boric has assigned Codelco, the world&#8217;s top copper producer, to spearhead the growth of the country&#8217;s stagnant lithium sector. This move aims to meet the rising demand for the white metal used in electric vehicle batteries. Currently, Chile is the second-largest lithium producer globally, trailing behind Australia.<\/p>\n","protected":false},"author":66,"featured_media":1950757,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[542],"tags":[7838,23255,29039,25587,23565,4757,13370,12368],"class_list":["post-1950756","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-oann","tag-boost","tag-chile","tag-codelco","tag-copper","tag-lithium","tag-production","tag-revive","tag-sector"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1950756","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1950756"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1950756\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1950757"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1950756"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1950756"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1950756"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}