Chilean miner SQM’s lithium sales volumes plunge after production delay
Santiago — Chilean miner SQM says delays in a project to boost output of lithium from salt flat Salar de Atacama slashed sales volumes of the ultralight battery metal by 27% in the third quarter. SQM, the world’s second-largest producer of lithium, said the previously announced delays were partly offset by high prices and 25% growth in demand in 2018 on sales to producers of electric vehicles. “These two factors have contributed to market prices remaining high during the third quarter,” CEO Patricio de Solminihac said after the company reported that third-quarter profit fell. “It is expected that prices will remain at these levels for the remainder of the year.” Prices so far in 2018 have averaged $16,500 per ton, up from $13,500 in 2017, according to the company’s earnings statement. SQM said in October it was facing delays in upgrading its lithium carbonate plant, which processes lithium from Salar de Atacama. The project, first announced in 2017, was designed to upgrade lithium p...
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