- The global lithium industry will need $10B-$12B of investment over the next decade to meet surging demand because of the anticipated boom in electric vehicles, says an executive at Sociedad Quimica y Minera de Chile (SQM +2.7%).
- Demand likely will grow by 600K-800K metric tons of lithium carbonate equivalent over the next 10 years, according to SQM's senior commercial VP Daniel Jimenez.
- SQM currently has annual lithium carbonate production capacity of 48K metric tons in Chile, which Jimenez says will expand to 70K tons by mid-2018 and to 100K tons in 2019.
- SQM also has 6K metric tons of annual capacity for lithium hydroxide, used in high-nickel content batteries, which Jimenez says will more than double to 13.5K tons by this June.
- Other potentially relevant tickers include ALB and FMC.
Lithium miner SQM says industry needs $10B-$12B investment over decade
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Symbol | Last Price | % Chg |
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Sociedad Química y Minera de Chile S.A. |