Chile's SQM to Ramp Up Lithium Production Amid Market Volatility

In Chile's Atacama Desert, SQM, one of the world's largest lithium refineries, is gearing up to boost production with a $490 million project. The expansion aims to increase the output of lithium hydroxide, essential for electric-vehicle batteries, indicating SQM's confidence in the dynamic market. Construction is slated to begin next year, marking the company's strategic move in an evolving landscape. Humberto Carvajal, production manager at SQM, highlighted the company's resolve, emphasizing the significance of this development in addressing the growing demand for lithium. The substantial investment underscores SQM's commitment to capitalizing on the opportunities presented by the burgeoning electric-vehicle sector.