The South American country is the world's second-largest producer of lithium, a key component of EVs and other clean technologies, and has about 40 percent of the world's lithium reserves. The partnership between the firms will allow them to jointly ramp up the exploitation of lithium in the Atacama salt flat region of northern Chile. The new company "will carry out lithium exploration, extraction, production, and commercialization activities in the Atacama salt flat until 2060," Codelco said in a statement. The partnership aims to restore Chile's leadership in lithium production, a title it lost to Australia nearly a decade ago. The new company aims to increase production by about 300,000 tons per year in the Atacama salt flat.

Source: Bangladesh Sangbad Sangstha December 28, 2025 03:25 UTC