It makes no sense that one commentator suggested that Chile should wait until it had more electric vehicles before making batteries. It should prioritize that part of the supply chain now to get an advantage before others take the lead. Go Chile!
That's right, that guy popping out of nowhere was weird. Makes no sense to wait that there are more electric cars in Chile if you want more electric cars there in the first place. Besides you can export batteries which I suppose Mr President of Global Lithium doesn't wants to. Developed countries want to keep on buying cheap raw materials from developing countries and then sell them back finished products. Aguante Chile desde Mexico.
As someone who lives in the area where the lithium is extracted. We dont want the lithium to be exploited no more. The aninals are dying brcaise of lack of water, the people somwtimes dont have water to shower , wash dishes and other day by day needs. The place is anatural beauty and the mining is destroying it!
I mean that’s always been the story latin america is “not ready” to move towards downstream activities and never will according to them, but downstream and added value manufacturing transitioning from raw materials to production has been what has developed countries like japan, korea, and now china.
Now it makes more sense what Boric is doing. It´s clear how developed nations still see LATAM as a dispensary. Just go an collect whats needed to keep developing their industries. That game is over.
@@sergioa5173 That's what China used to think with Mao's anti colonialist bs. Then they discovered capitalism and now produce 90 pc of the world's rare earth metals
As a Chilean citizen it is possible to observe a new great opportunity and the beginning of another mining cycle, which has defined our economy forever, from saltpeter, through copper and now lithium. I only hope that we can find the balance between ecology and a fair international policy (economy), which is where we citizens are affected.
Lithium prices skyrocketed with demand for EV batteries and has now returned to pre 2020 prices with the advent of Sodium ion batteries beginning mass production by CATL at what will be half the cost of Lithium batteries possibly less when other companies ramp up. Lithium isn't forecast to crash, but demand and price could well decline much further in a few years.
i don't think it works to have these companies care about your ecology or even people when they don't live there. you can see the lady laugh inside when she says 600million in total paid for all the billions they've made and how when they aren't they will walk away and go home leaving generations a mess and poverty. how many times does this have to play out? the only way it can work is if the people on the land own it and work it.
@@dieglhix We Lived that With the saltpeter, it Last for a few years like 90 years a go, but then they discovered the cupper in the same land. The amount of minerals here is huge
It's all about Greed & Corruption. If the right 'special interests', environmental activists and politicians are paid-off, China will take over the entire show.💰💰💰
@@donaldkasper8346 They always pay off the local officials. That’s the problem with these countries that are stricken by the resource curse. That money almost never finds its way into the pockets of the surrounding population. Rather than reinvest it, a class of people friendly with the regime grows fat and wealthy from graft and the money ends up getting spent outside of the country’s borders
I'm from Australia and refining Lithium is such a polluting exercise, I'm not sure any country does it properly just yet. Caution on going grand scale as what you end up paying may be much more than what the country receives.
Chinese also a big buyer of Australian Lithium, they wants to buy it more greener, of course, Chile polluting, but that has happen if your country don't have that much of income.
Lithium brine is literally toxic waste and it's already there in vast quantities. Unlike mining lithium from rock, they're actually making these deserts less toxic.
There is NO way of knowing the harmful effects of these mines. I would say these areas are destroyed forever. It’s ridiculous how we expect to be able to destroy other places but not allow energy creation in the United States of America. This is a worse option than petroleum. These mines are functioning with petroleum power.
The reporter said thay they didn't see any electric vehicles, but they didn't look for busses. Because Chile has the largest electric buses fleet in the region, more than three times the number of USA
i think its great when a main source of income from a certain industry in any country pays its taxes with little to no fraud or corruption its the best way to modernize a nation
The US Department of Energy estimates that electric vehicles emit 60% less carbon pollution than gasoline-powered cars. The UN says lithium production will be vital in helping wean the world off fossil fuels and reducing greenhouse gas emissions. 7:30 [World Economic Forum]
@@Gurci28 Many solutions are needed to help this come to pass. If we can get decent storage for grid storage that's not lithium based, because it doesn't really need to be, then that will help alleviate a little of the demand and pressure to mine lithium. The piece also talked about recycling batteries as well, so if that comes to pass and ramps up, that would help as well.
Sure, Argentina might take over as the world's 2nd producer, but at the cost of practically giving it away. Why, do you ask? Because money will go to the pockets of politicians, and not the Argentinian people. It has always worked that way, and it sill works the same way. Chile is making sure that the profits stay in the country, and minimizing the impact on the surrounding ecosystem.
The problem is, why would a company make all the investments, take all the risks but without control of the company or profits, that could deter companies from even investing. But also the problem is that they HAVE to get started!! The technology of batteries are quickly advancing, they're already testing batteries that use salt and sand or sodium and sulfur.
@@JayForsure Chile assumes a lot of risk as well. Environmental degradation and other externalities will be imposed on the Chilean people, it's the right thing to do for Chile to take a fair share of the profits. Also, if you're saying that lithium won't last forever, that's a stronger reason to not grow it too much and depend on it too much, you want to avoid the Dutch disease. If Chile becomes too reliant on the rents of lithium, then they will be devastated when the price falls.
@@bikesarebest Well environmental/other external issues like safety of workers are solved by rules and regulations. That's what politicians do without taking an actual stake or a percentage in the companies. Imagine if a German producer of bread wanted to set up his company in the US, the government has FDA rules that, that company has to follow, but you don't see the government or the FDA take a percentage of the company lol. Also, my point was that they should take advantage of such high lithium prices and have them invest very little and have other companies invest a lot and start producing as much as they can BEFORE prices fall.
Chile needs to do whatever it needs to develop its own economy, for the good of the Chilean people. Its funny to see foreigners suggesting that Chile should not develop its own industries, its like a drug trafficker saying that you should not quit drugs because it will be bad for you, their lies are so funny. Go Chile! Pursue your own destiny!
Not funny, but it's hard not to laugh awkwardly. Ofcourse, the majority of the higher class don't want to see the progress of the rest. It's like: what the hell are white people doing in the Chilean lithium mines?? It should be only Chileans or Latin Americans in general, not letting others exploit their lands.
Sure. They can develop all the tech and build everything for themselves and have all the money from the mines. Just a few trillion in tech investment and chemical engineering should do it.
Since the start of the dictatorship of Pinochet, our resoucers were forcefully put in the hands of mostly ango american big companies. The gringa in this video complains that they pay too much tax ha ha... How they miss the good ol pinochet days for stealing from us.
Hopefully Chile will have an efficient mixed state owned private industry that can satisfy growing demand, and also increasing chile's tax coffers. Really beautiful country, one of the best in the nation. Best regards from Pumalal, Chile.
...It's all about Greed & Corruption. If the right 'special interests', environmental activists and politicians are paid-off, China will take over the entire show.💰💰
Problem is not more e cars. The problem is politicians that want a big slide of money. No agreement, no investments authorized. Sadly chilean politicians see the small picture.
Making downstream products like batteries etc in Chile makes sense from their perspective. Chile has an advantage in reserves (as well as Nickel and Copper... almost all the battery metals). It should abuse that advantage as much as possible to grow jobs in the country. Aim for jobs, not money at this stage. I think nationalizations and public companies will feed corruption in the rest of the government and build a state that doesn't rely on its citizens for tax revenues but instead on an export oriented industry. This is what happens to petro states and is terrible for the citizens, like in Venezuela.
Chile should join Mercosur and protect/industrialize its resources, together these countries would have a large portion of the World's main commodities.
The incompetent laziness of these companies who choose to deliberately utilise 19th century technology is astounding. With a bit of care and decency the clean water from the extraction process can easily be returned to farmers and the environment. To do it properly is actually cheaper long term. The just refuse to lay the up front cost. Stand strong Chile.
This video came at a great time. I just put 25k into ALB because I think it is oversold. They seemed to be positioned extremely well to handle EV demand for the US and other countries
What is surprising is that those politicians that only see dollar signs say that the supply of Lithium in Chile is "Limitless". There will come a day when the Land will become totally barren and no more Lithium will be available for mining but the politicians don't care and only want to push their agenda.
Wouldn't there be a good argument made that taking the Salt water from under the earth and having Fresh water Evaporate into the air would actually increase the chances they might get some rain outside the salt flats when the water cools off over greener pastures?
People need to remember that ground water doesnt just magically appear, when underground resources are drained the surfacewater is reduced as it refills the aquafers.
As Sodium-ion battery technology advances, it might take some of the pressure off Li resources and prevent some of the ecological damage mining it will cause. Iron-air batteries might do the same for grid scale, stationary battery applications to even out wind and solar green energy sources.
The environmental criticism makes zero sense. Water evaporation is a completely natural process and cleans the water. In this video they had no evidence of any damage.
@@hs5312 he meant not every company or country has the capabilities, public support, knowledge or resources to build nuclear infrastructure for their grids, it was a idiom genius WTF were you thinking?
All the indigenous in Atacama with money they accept the mining, don’t tell me they are against the miners, if they got money from that, they are happy and forget about the ecology or water for farming
Government needs to take royalties, ensure environmental compliance and not be in business. Third World Governments are bureaucrats that are 10% productive and 90% bluster.
As Chilean, I believe that if we don't take the opportunity, others will and the question that is, if not this, then what have Chile to offer to keep its living standards? Hardly anything other than minerals, we got to use them to empower other industries, but with so much talk and less action, I loose hopes here😅
Better batteries are being developed as we speak. Lithium will be looked back on as a temporary bridge allowing developement of other necessary aspects like more efficient motors, expanding markets and production methods etc.
Not sure about this, Li has the highest electronegativity on table, Li will always be the technology to defeat. Its like saying hydrocarbons are out of game for energy.
Even in the coming solid state batteries and other newer high capacity batteries still use Lithium. Sure sodium batteries are a thing, but a sodium battery will always have a lower energy density than a lithium battery of similar type.
La decisión es de ustedes gringos, Chile no necesita tener un parque automotriz eléctrico para garantizar un mercado interno de baterías de litio porque ese mercado interno lo absorbe con creces la industria minera del cobre. Si ustedes construyen una planta de fabricación de baterías de litio en Chile ganamos todos. Si ustedes siguen con su mentalidad de impedir el desarrollo industrial y tecnológico en Chile lo harán los chinos y Chile ganará igual pero ustedes llorarán.
Annual lithium demand is projected to reach roughly 1.5 million metric tons of lithium carbonate equivalent by 2025 and over 3 million tons by 2030. Global X ETFs But a 2022 analysis by the McKinsey Battery Insights team projects that the entire lithium-ion (Li-ion) battery chain, from mining through recycling, could grow by over 30 percent annually from 2022 to 2030, when it would reach a value of more than $400 billion and a market size of 4.7 TWh. [Global X ETFs; McKinsey] 12:34
Xi Jinping Views Top EV-Battery Maker CATL With ‘Joy and Worry’ 1:23 [Bloomberg] China weighs extending EV tax break beyond 2023 [Nikkei Asia] 1:23 The China Dragon Roars Back Whether the US Likes It or Not 1:23 [Scheerpost]
Why not nationalize it? Why go through some corporate middleman like a mining company, especially a foreign one? It’s inefficient. A state institution could undercut and sell it much cheaper than these mining companies could to other foreign states or corporations that need lithium. At the same time making more money than the current dynamic by having the entire pie instead of the tiny percentages the mining companies want to give you.
Chile has nickel and the demand for nickel will only increase. The demand for lithium may not be what many "experts" believed it would be only a few years ago. The brine also has tremendous amounts of sodium (and bromine/bromide) and it too can be used in batteries. Sodium isn't worth very much compared to lithium because it is very common but as the demand for lithium goes down in the future (recycled batteries and new battery tech) and the demand for sodium goes up so will the price.
I expect that we will also have sodium ion batteries in the future. Sodium ion batteries have lower energy density but they are a lot cheaper to make once you devolp them in large quantities. So in application were you have more space for example as energy storage for rooftop solar they are preferable, as they are also saver in case of a failure.
Chile is one of the countries with the largest amount of "rare earths" in the world, which is why they are afraid that Chile will develop its own technology industry.
Always and everywhere the government has control on resources and the governments are on driving seat which drive the industries to flourishes or to fail. The government are good partners on every business even when they do not invest any capital. The government will get royalties and will get taxes. So Chile partnership on developing Lithium industry is business as usual, and the private investors or government investors who like the partnership must know the terms of partnership. Looks Chile is open for business as usual but private investors are not ready to accept deals, and this give a big opportunity for other competitor countries who compete to benefit from these type of partnering.
the real problem is that the goverment wants 51% of the stakes of any company involved in the extraction of lithium, that and the taxes makes over 70% of the profits for the goverment that wont invest anything in the bussines
@@Aphores This is not problem for private investors, they are free to invest their money on other projects where they make profit more. The free trade is free trade. Then Chilean government and their peoples will develop their reserves with their capital or with other partners. The free market based on business as usual is open.
I think we're already too late. And wait for the endless discussions to come. In a short time lithium will be less important, and maybe replaced with sodium batteries.
This is very unlikely, because even if Sodium makes its way up the latter, it will have a hard time to crack the Notebook computer and mobile phone market and in spite of wording inside the Video, these 2 applications together still outweigh Cars in global Lithium consumption. Not to speak about high end BEV applications who will stick to Lithium for longer regardless of lower cost alternatives until these leave their drawbacks behind.
Afghanistan reportedly sits on an estimated $1 trillion worth of rare earth minerals, including huge deposits of lithium. The Islamist rulers have banned the extraction and sale of lithium since reclaiming power in Afghanistan in August 2021 after the withdrawal of US troops from Afghanistan. 1:29 [The New Indian]
Chile is the second largest producer of lithium and holds the world's third largest reserves of the metal. Demand for lithium is expected to soar amid the transition to renewable energy around the world and the growth in electric vehicles that are powered by lithium batteries. 18:00 [CNBC]
Mientras China apuesta por dar valor agregado desde Chile otros esperan simplemente llevárselo como ha sido con el cobre, si esa lógica no cambia China tiene todas las de ganar y no solo en Latinoamerica. PD: No, no vote por este gobierno de aprendices (Boric) pero con respecto a la matriz productiva y exportadora es necesario avanzar.
No matter how batteries of the future are made they will power electric motors and thats a key advantage. Because and movement of electrons from batteries will be able to turn the motor and will then not be 100% reliant on ine one batter technology. Plus metal are recyclable where its Impossible to recycle furl once it has been burned in an ICE vehicle.
I don't understand what the guy from Arteaga says when he says ".. that's not the way people used to do business". Half the economy of China is predicated on this principle. Is he saying China has been unsuccessful in wrangling multinational companies?? Good god.
We need to use the new technology that's Ben made and under testing with great success. This one is about to not be testing but working for real this year it uses 98% less land and gets 10 to 20 times more lithium in 3 to 5 months rather then 18 to 24 months.
@@izaakbrummitt1992 they are pumping water, probably with a diesel generator during the day. Might as well use solar panels instead so they don't have to pay for fuel.
I'm sure they might do that. These systems are pretty old already. Maybe they start using them now since it got so cheap now. + You need a lot of energy to activate the lithium in the brine. They will use solar cells for that in the future as well I'm sure.
A 20 horsepower pump that would be a small diesel trailer would be replaced by a solar powered pump that would require something like 2300 square feet of solar panels.
If the lithium producers were to install a reverse-osmosis system to treat the raw brine, perhaps it could be worth t in letting them provide pure water to the local communities, and send the super-concentrated brine to evaporation pans where production cycles would be shortened.
There are technical solutions (osmosis, thermal distillation), for the problem of water loss by evaporation and that is the great environmental barrier to open new tenders or approve the expansion of existing ones. But the industry is stagnant due to a political problem and we all know that all Chileans will be the most affected by their decisions.
@@javierRC82857 Postulating that ALL Chileans will be affected by [x] policy... is something of a stretch. Even a policy which proclaimed that every male child must be put to death, the Bible tells, failed.
It’s not nationalization but a strong effort of protecting your resources instead of losing control and sell out to companies. That region of Chile has important natural resources that are at risk should development and mining expand.
They always find 1 or 2 indigenous people to say that there are communities living in the middle of the desert and that they won't be able to love because a project like this
So the sun bakes that water contained with harmful metals. Right into the atmosphere from all humans and animals to breathe. Good job, sounds sooo green and clean. Farce
It's AWESOME that a government can RESPECT THE ENVIRONMENT. 75k cars is AMAZING for EV's. ALL of this mining for precious metals cost the Earth so much worse than Gas. Renewables should only be Nuclear Reactors. That would reduce needs for 89%. That's good enough to reduce emissions
Among the Organisation for Economic Co-operation and Development (OECD), Chile is one of the most unequal countries. It is estimated that the richest 1% captures 17% of the total tax revenue, while the wealthiest 10% receives over 50% of all income. Private companies are stealing our resources and making a profit from them. They will use all means of pressure they know, from political instability to financial bullying.
I laughed out loud when she said that more research is needed. "More research is needed...", "It's an open question..." was also said by the tobacco, oil, and sugar industries.
Proper made Li batteries are to be sold everywhere these days, the fabrication process might be bought, professionals to handle the production are plenty on the country. You probably just need a handful of engineers to understand the basic chemical process and the process of producing large scale, high quality Li ion baterries. Politics and decisions are another stuff..
Lithium is a chemical element and key component of electric vehicle (EV) batteries that's also known by another name: “white gold.” That's because in a future powered by batteries, from our electric cars to our smartphones, lithium is quickly becoming the most valuable commodity on the planet. Lithium is integral to the realization of decarbonization goals and the sustainable future that is being built around the world. Already omnipresent in consumer electronics, lithium-ion batteries are powering electric vehicles and being used as energy storage for renewables. 2:34 [EnergyX; Popular Mechanics]
That's cool that the Chilean people seem like they are better off just chilling in their sunshine than making a bunch of money off of mines. There is probably fierce demand for that land from large businesses so I'm sure they will try to influence the situation however they can to make money out there. One thing I would be concerned about is the urban populations a lot of mines will create based on unsustainable resource extraction practices, you got to take care of that additional population after the mines dry out may be better in the long run to just go slowly with it. I wonder how bad their problems are with poverty and homelessness now, like do they actually need the tax money to immediately fix that? I was waiting for the journalist to interview someone who represents the ghetto about it
the problems is: the pubic companies here in Chile are highly inefficient. CODELCO tis the main copper mining company dependent from the government of Chile was created after Salvador Allende nationalized the copper mines in the 70's, now is highly in debt due to bad business practices, they sold hundred of thousands of tons of coper to China for 10 years at a price of 1.5 dollars when the market prices was of 3 dollars. this year CODELCO decreased the amount that contributed to the Chilean government to a mere 2 B of dollars a year, while one of the smaller America mining companies working in Chile paid 6B dollars in taxes and royalties. all public companies in Chile are highly inefficient, unions are really important and they get rich bonuses even if the company is lost money, a lot of his directors of this companies are in the position just because they are collaborators of the party that the president belongs, the corruption is HIG!. nothing comparted with developed countries. as an example, the indigenous communities never had a voice in the implementation of this new plan by the government, the politician talk to gain the votes, the company that produces most pollution in the country is a public one: CODELCO nobody can sue them because they are from the government.
Now it turns out that Chile wanting to protect their interests is a “crossroad” and worrying, nah fam, we good. Do it cleanly, pay what’s due and you all can do business with Chile, not so complicated.
*ALL RAW MATERIAL EXPORTING NATIONS SHOULD SAY NO TO RAW MATERIAL EXPORTING. FORCE COMPANIES TO COME IN TO PRODUCE BATTERY 🔋 IN THEIR OWN COUNTRIES USING THEIR OWN LABOUR!!*
I feel like people aren't getting it. It's not enough to produce manufactured goods, you also have to be competitive with the world's current producers of manufactured goods... What makes me as an American decide to buy a Lithium-Ion battery from Chile instead of China or India or even my own country? I can tell you it won't be loyalty to Chile, it would need to be cheap AND better than their competition to even be worth the time. So if they decided to do all the EV battery manufacture in Chile itself the odds are you'd be selling them at cost or even a loss just to compete with the current battery manufacturers. Mexico got lucky that the USA signed a free trade pact with them and thus manufacturing jobs went to Mexico very fast due to cheaper labor and no export costs. An important note though is that Mexico still hasn't quite caught up with China or even India for that matter in getting it's manufacturing to be truly pushing themselves to developed status. That being said Mexico IS getting there...
It's easy to say that. in fact batteries not only contain lithium, but also nearly 100 other materials. it means Chile needs to import dozens of other raw materials and parts If chile want to manufacture batteries, which will increase a lot of costs
SPOKEN LIKE A TRUE SOCIALIST. TELL ME, HOW IS THAT GOING TO WORK WHEN THE COUNTRY PRODUCING COBALT OR NICKEL REFUSES TO EXPORT THEIR NATURAL RESOURCES TO, SAY CHILE?
SQM is a company I'd had planned to invest in the future but I didn't know about the other company Albemarle. I had plans to move to Chile but my plans changed.
Let me clarify things a bit about SQM: At its founding (1968), this 'private company' was created as a 'Mixed Mining Company' between individuals and the State of Chile (in other words, it was a state company after all) under the government of Don Eduardo Frei Montalva. It was conceived for the exploitation, processing and commercialization of potassium nitrate and specialty fertilizers such as iodine, potassium and lithium. In mid-1983, in the midst of the dictatorship, the company began its privatization (because according to them, it was not profitable for the country) which materialized in 1988 being 'sold' (given almost as a gift) to Pinochet's then son-in-law, Julio Ponce Lerou. Unfortunately, over time, SQM has been linked to many judicial problems of a political nature. It should be noted that the company in the 1st government of Piñera (in mid-2012), took over 100% of the lithium extraction, delivering only 7% of the profits to the state. Of said extraction, it was calculated that it would be close to 100 thousand tons for 20 years, at the end of 2022 it will exceed 140 thousand. There is still lithium ore left so that the current government, under the creation of a new state company (ENALI - Empresa Nacional Del Litio), can generate profits for the state and that not only private companies take everything that future sales can generate of the ore, either raw or refined... and even, as in batteries (if they come to create a company with private or state contributions, that manufactures them).
I say give the foreign companies what they want but make them pay a little for the cleanup. Get money from the lithium and help the country. But of course there is always greed in the governments.
85% of the extraction is in possession of the Chilean company SQM while only 15% is on Albemarle, the USA company. And the woman from Albemarle said that in Chile they pay higher taxes than in any other country
That's the thinking that makes a lot of poor countries sit on their prime material and not extract at all, losing the whole market. Extracting materials means tons of spending and a lot of technology that most countries simply don't have.
All these supply chain issues and for some reason the government is still giving out money to go buy EVs that could of been used help the homeless or something
There is no “life changing” opportunity with lithium for Chile. Sure, it’s an exploitable resource but all we can expect from it are taxes low enough for us to be competitive with the large list of countries producing lithium. As I write this lithium has become older technology regarding state of the art technology in batteries. All that’s left is the spawn of time in which “non electric” western car companies still use lithium before they can transition to sodium batteries (China has the lead here). Greetings from Chile.
You will be able to invest in the construction of a battery manufacturing plant when the uuss or china decide to start manufacturing batteries in Chile.
It makes no sense that one commentator suggested that Chile should wait until it had more electric vehicles before making batteries. It should prioritize that part of the supply chain now to get an advantage before others take the lead.
Go Chile!
That's right, that guy popping out of nowhere was weird. Makes no sense to wait that there are more electric cars in Chile if you want more electric cars there in the first place. Besides you can export batteries which I suppose Mr President of Global Lithium doesn't wants to. Developed countries want to keep on buying cheap raw materials from developing countries and then sell them back finished products.
Aguante Chile desde Mexico.
You think those pretty lithium lakes are clean 🤣🤣🤣🤣.
@@chiquita683 extremely salty water vs petroleum. salty water for the win.
@@ab3000x I can't evacuate from a hurricane with a RC car that needs battery charging and batteries that can't get wet. DUH
@@BangBangBang. but you'll do fine in a modern EV! Have a great day!!! :^)
As someone who lives in the area where the lithium is extracted. We dont want the lithium to be exploited no more. The aninals are dying brcaise of lack of water, the people somwtimes dont have water to shower , wash dishes and other day by day needs. The place is anatural beauty and the mining is destroying it!
I mean that’s always been the story latin america is “not ready” to move towards downstream activities and never will according to them, but downstream and added value manufacturing transitioning from raw materials to production has been what has developed countries like japan, korea, and now china.
Meanwhile, western countries don’t have upstream, down stream or any manufacturing except weapons. We do food delivery and warehouse pick and pack.
@@TheBooban only American can, and maybe the rest of the west is to resources poor
Now it makes more sense what Boric is doing.
It´s clear how developed nations still see LATAM as a dispensary. Just go an collect whats needed to keep developing their industries.
That game is over.
@@sergioa5173 That's what China used to think with Mao's anti colonialist bs. Then they discovered capitalism and now produce 90 pc of the world's rare earth metals
@@sergioa5173 Yes and they are like we want to extract your resources without paying too much taxes.
As a Chilean citizen it is possible to observe a new great opportunity and the beginning of another mining cycle, which has defined our economy forever, from saltpeter, through copper and now lithium. I only hope that we can find the balance between ecology and a fair international policy (economy), which is where we citizens are affected.
lithium battery technology will be thoroughly replaced in less than 10 years
Lithium prices skyrocketed with demand for EV batteries and has now returned to pre 2020 prices with the advent of Sodium ion batteries beginning mass production by CATL at what will be half the cost of Lithium batteries possibly less when other companies ramp up. Lithium isn't forecast to crash, but demand and price could well decline much further in a few years.
i don't think it works to have these companies care about your ecology or even people when they don't live there. you can see the lady laugh inside when she says 600million in total paid for all the billions they've made and how when they aren't they will walk away and go home leaving generations a mess and poverty. how many times does this have to play out? the only way it can work is if the people on the land own it and work it.
@@dieglhix We Lived that With the saltpeter, it Last for a few years like 90 years a go, but then they discovered the cupper in the same land. The amount of minerals here is huge
@@iainwares6361 You right, now is the moment to act, I just hope that our goverment be smart
Good for Chile. Make those companies pay but reinvest in real infrastructure, schools, hospitals, whatever the people need.
What a stupid socialist comment
Don't give them ideas
Don't make this countries just like Saudi Emirates 😡
They always do that. They always pay off the locals.
It's all about Greed & Corruption. If the right 'special interests', environmental activists and politicians are paid-off, China will take over the entire show.💰💰💰
@@donaldkasper8346 They always pay off the local officials. That’s the problem with these countries that are stricken by the resource curse. That money almost never finds its way into the pockets of the surrounding population. Rather than reinvest it, a class of people friendly with the regime grows fat and wealthy from graft and the money ends up getting spent outside of the country’s borders
I'm from Australia and refining Lithium is such a polluting exercise, I'm not sure any country does it properly just yet. Caution on going grand scale as what you end up paying may be much more than what the country receives.
Chinese also a big buyer of Australian Lithium, they wants to buy it more greener, of course, Chile polluting, but that has happen if your country don't have that much of income.
Lithium brine is literally toxic waste and it's already there in vast quantities. Unlike mining lithium from rock, they're actually making these deserts less toxic.
@@dansands8140
I think you'll find that's not the case
How dare you !!!!! From New Zealand
It's okay.. don't worry. It's the liberalism and progressive agenda. Just consider the pollution as a blessing. Embrace it with full of denialism.
There is NO way of knowing the harmful effects of these mines. I would say these areas are destroyed forever. It’s ridiculous how we expect to be able to destroy other places but not allow energy creation in the United States of America. This is a worse option than petroleum. These mines are functioning with petroleum power.
The reporter said thay they didn't see any electric vehicles, but they didn't look for busses. Because Chile has the largest electric buses fleet in the region, more than three times the number of USA
You are wrong
@@Ligmajohnson1989 explain
You say 3 times as many as US as if the US has millions of them
I wanted to say that Chile has 3 times more than the US,
He meant to say per capita. An indication , perhaps , that BYD is at task there. America bias at its best.
i think its great when a main source of income from a certain industry in any country pays its taxes with little to no fraud or corruption its the best way to modernize a nation
The US Department of Energy estimates that electric vehicles emit 60% less carbon pollution than gasoline-powered cars. The UN says lithium production will be vital in helping wean the world off fossil fuels and reducing greenhouse gas emissions. 7:30 [World Economic Forum]
@@Gurci28 Many solutions are needed to help this come to pass. If we can get decent storage for grid storage that's not lithium based, because it doesn't really need to be, then that will help alleviate a little of the demand and pressure to mine lithium. The piece also talked about recycling batteries as well, so if that comes to pass and ramps up, that would help as well.
Sure, Argentina might take over as the world's 2nd producer, but at the cost of practically giving it away. Why, do you ask? Because money will go to the pockets of politicians, and not the Argentinian people. It has always worked that way, and it sill works the same way.
Chile is making sure that the profits stay in the country, and minimizing the impact on the surrounding ecosystem.
The problem is, why would a company make all the investments, take all the risks but without control of the company or profits, that could deter companies from even investing. But also the problem is that they HAVE to get started!! The technology of batteries are quickly advancing, they're already testing batteries that use salt and sand or sodium and sulfur.
@@JayForsure Chile assumes a lot of risk as well. Environmental degradation and other externalities will be imposed on the Chilean people, it's the right thing to do for Chile to take a fair share of the profits. Also, if you're saying that lithium won't last forever, that's a stronger reason to not grow it too much and depend on it too much, you want to avoid the Dutch disease. If Chile becomes too reliant on the rents of lithium, then they will be devastated when the price falls.
But hey, as long as line-goes-up, right?
@@bikesarebest Well environmental/other external issues like safety of workers are solved by rules and regulations. That's what politicians do without taking an actual stake or a percentage in the companies. Imagine if a German producer of bread wanted to set up his company in the US, the government has FDA rules that, that company has to follow, but you don't see the government or the FDA take a percentage of the company lol. Also, my point was that they should take advantage of such high lithium prices and have them invest very little and have other companies invest a lot and start producing as much as they can BEFORE prices fall.
You nailed it!
Chile needs to do whatever it needs to develop its own economy, for the good of the Chilean people. Its funny to see foreigners suggesting that Chile should not develop its own industries, its like a drug trafficker saying that you should not quit drugs because it will be bad for you, their lies are so funny.
Go Chile! Pursue your own destiny!
Not funny, but it's hard not to laugh awkwardly. Ofcourse, the majority of the higher class don't want to see the progress of the rest.
It's like: what the hell are white people doing in the Chilean lithium mines?? It should be only Chileans or Latin Americans in general, not letting others exploit their lands.
Chile has so many crucial minerals! Just hope that these resources can lead Chilean to a better life, they should own the major part of profit from it
Sure. They can develop all the tech and build everything for themselves and have all the money from the mines. Just a few trillion in tech investment and chemical engineering should do it.
It's a private business
Your idea is good, who do you think is responsible for a good building and a free building that benefits people
Since the start of the dictatorship of Pinochet, our resoucers were forcefully put in the hands of mostly ango american big companies. The gringa in this video complains that they pay too much tax ha ha... How they miss the good ol pinochet days for stealing from us.
@Dean Hend the US already did their “peace” job in Chile in 1973 😅
Hopefully Chile will have an efficient mixed state owned private industry that can satisfy growing demand, and also increasing chile's tax coffers. Really beautiful country, one of the best in the nation. Best regards from Pumalal, Chile.
...It's all about Greed & Corruption. If the right 'special interests', environmental activists and politicians are paid-off, China will take over the entire show.💰💰
You mean socialism? No gracias desde Puerto Montt.
@@Brommear funciono con el cobre jajaja
Problem is not more e cars. The problem is politicians that want a big slide of money. No agreement, no investments authorized. Sadly chilean politicians see the small picture.
Making downstream products like batteries etc in Chile makes sense from their perspective. Chile has an advantage in reserves (as well as Nickel and Copper... almost all the battery metals). It should abuse that advantage as much as possible to grow jobs in the country. Aim for jobs, not money at this stage.
I think nationalizations and public companies will feed corruption in the rest of the government and build a state that doesn't rely on its citizens for tax revenues but instead on an export oriented industry. This is what happens to petro states and is terrible for the citizens, like in Venezuela.
Seems like they are looking out for the people over corporations. In that i'm all for it.
I for one welcome the re-emergence of the Southern Cone. Hopefully they don't get CIA-Pinochet'd again.
It’s not how you think it is, and btw, i veer to the left
Chile should join Mercosur and protect/industrialize its resources, together these countries would have a large portion of the World's main commodities.
@@guruxara7994 Mercosur is a joke. Even our most self respecting left leaders know that. Chile stays out of that circus as much as possible.
@@ilovesheryterry Chile is still in a circus, the difference is that they are the animals, not the owners.
@@guruxara7994 do you really believe in the Mercosur? 😂 and that they're better of in Argentina or Brazil than us here?
The incompetent laziness of these companies who choose to deliberately utilise 19th century technology is astounding. With a bit of care and decency the clean water from the extraction process can easily be returned to farmers and the environment.
To do it properly is actually cheaper long term. The just refuse to lay the up front cost.
Stand strong Chile.
Yes, but there's no arbitrage to be made and it ties up the investment into the Chilean people instead of the company. It ain't laziness.
How do you capture the water being evaporated over many acres of pond?
This video came at a great time. I just put 25k into ALB because I think it is oversold. They seemed to be positioned extremely well to handle EV demand for the US and other countries
Memo: The price crashed no one wants EV's.
What is surprising is that those politicians that only see dollar signs say that the supply of Lithium in Chile is "Limitless". There will come a day when the Land will become totally barren and no more Lithium will be available for mining but the politicians don't care and only want to push their agenda.
They can push all they want, I'm not buying an ev. Lol
The Atacama is pretty barren without lithium mining anyway.
Systematic Procrastination 🆚 The Flexible Capacitor 👁🗨 19:20
Best to take it slow and don’t give into greedy corporations who just mess everything up.
Bit ironic that the companies are actually giving the local communities tons of money and its still ruining them.
Not good enough. The companies could be giving all their money to the communities that do the work and who it belongs to.
Venezuela tried that.
Everyone is trying to loot is all I learned in this video
EXACTLY
Wouldn't there be a good argument made that taking the Salt water from under the earth and having Fresh water Evaporate into the air would actually increase the chances they might get some rain outside the salt flats when the water cools off over greener pastures?
If it was that simple, it would be done everywhere. There's so many factors in meteorology and control over it something humans don't have now.
All it takes are winds to blow the clouds elsewhere, and the groundwater is now less plentiful and brinier. Again, complex systems.
@@shapshooter7769 rising tides lift all shift
Or they could build domes over the evaporation ponds to collect condensed freshwater.
People need to remember that ground water doesnt just magically appear, when underground resources are drained the surfacewater is reduced as it refills the aquafers.
As Sodium-ion battery technology advances, it might take some of the pressure off Li resources and prevent some of the ecological damage mining it will cause. Iron-air batteries might do the same for grid scale, stationary battery applications to even out wind and solar green energy sources.
The environmental criticism makes zero sense. Water evaporation is a completely natural process and cleans the water. In this video they had no evidence of any damage.
Why does the grid need batteries, just run most of the grid off nuclear. Use batteries for vehicles and home storage
@@TheBoobanIt uses ground water dumbo. There will be scarcity of drinking water because of low water levels and polluted water.
@Mr Anderson the companies that run the power grid have access to nuclear tech. I said run the grid off nuclear. WTF were you reading
@@hs5312 he meant not every company or country has the capabilities, public support, knowledge or resources to build nuclear infrastructure for their grids, it was a idiom genius WTF were you thinking?
All the indigenous in Atacama with money they accept the mining, don’t tell me they are against the miners, if they got money from that, they are happy and forget about the ecology or water for farming
Government needs to take royalties, ensure environmental compliance and not be in business. Third World Governments are bureaucrats that are 10% productive and 90% bluster.
Chile is the best place to retrieve lithium.
-The Ofori-Atta Family
As Chilean, I believe that if we don't take the opportunity, others will and the question that is, if not this, then what have Chile to offer to keep its living standards? Hardly anything other than minerals, we got to use them to empower other industries, but with so much talk and less action, I loose hopes here😅
Better batteries are being developed as we speak. Lithium will be looked back on as a temporary bridge allowing developement of other necessary aspects like more efficient motors, expanding markets and production methods etc.
Not sure about this, Li has the highest electronegativity on table, Li will always be the technology to defeat. Its like saying hydrocarbons are out of game for energy.
Even in the coming solid state batteries and other newer high capacity batteries still use Lithium. Sure sodium batteries are a thing, but a sodium battery will always have a lower energy density than a lithium battery of similar type.
La decisión es de ustedes gringos, Chile no necesita tener un parque automotriz eléctrico para garantizar un mercado interno de baterías de litio porque ese mercado interno lo absorbe con creces la industria minera del cobre.
Si ustedes construyen una planta de fabricación de baterías de litio en Chile ganamos todos. Si ustedes siguen con su mentalidad de impedir el desarrollo industrial y tecnológico en Chile lo harán los chinos y Chile ganará igual pero ustedes llorarán.
Congratulations for your excellent analysis on Chile`s lithium mining resources, related with the EVs booming industry.
Annual lithium demand is projected to reach roughly 1.5 million metric tons of lithium carbonate equivalent by 2025 and over 3 million tons by 2030. Global X ETFs
But a 2022 analysis by the McKinsey Battery Insights team projects that the entire lithium-ion (Li-ion) battery chain, from mining through recycling, could grow by over 30 percent annually from 2022 to 2030, when it would reach a value of more than $400 billion and a market size of 4.7 TWh. [Global X ETFs; McKinsey] 12:34
@@Gurci28 you think ppl will have money to buy those electric cars? 🤔
Xi Jinping Views Top EV-Battery Maker CATL With ‘Joy and Worry’ 1:23 [Bloomberg]
China weighs extending EV tax break beyond 2023 [Nikkei Asia] 1:23
The China Dragon Roars Back Whether the US Likes It or Not 1:23 [Scheerpost]
Why not nationalize it? Why go through some corporate middleman like a mining company, especially a foreign one? It’s inefficient. A state institution could undercut and sell it much cheaper than these mining companies could to other foreign states or corporations that need lithium. At the same time making more money than the current dynamic by having the entire pie instead of the tiny percentages the mining companies want to give you.
Then America will instigate another coup!
Chile has nickel and the demand for nickel will only increase. The demand for lithium may not be what many "experts" believed it would be only a few years ago. The brine also has tremendous amounts of sodium (and bromine/bromide) and it too can be used in batteries. Sodium isn't worth very much compared to lithium because it is very common but as the demand for lithium goes down in the future (recycled batteries and new battery tech) and the demand for sodium goes up so will the price.
I expect that we will also have sodium ion batteries in the future. Sodium ion batteries have lower energy density but they are a lot cheaper to make once you devolp them in large quantities. So in application were you have more space for example as energy storage for rooftop solar they are preferable, as they are also saver in case of a failure.
@@Ninjaeule97 The first Sodium Ion battery equipped vehicles have already been made. I don't think any have been sold to the public yet.
Chile is one of the countries with the largest amount of "rare earths" in the world, which is why they are afraid that Chile will develop its own technology industry.
Excelent report. Interesting and well informed.
Well done!
Saludos de Chile 🇨🇱
Always and everywhere the government has control on resources and the governments are on driving seat which drive the industries to flourishes or to fail. The government are good partners on every business even when they do not invest any capital. The government will get royalties and will get taxes. So Chile partnership on developing Lithium industry is business as usual, and the private investors or government investors who like the partnership must know the terms of partnership.
Looks Chile is open for business as usual but private investors are not ready to accept deals, and this give a big opportunity for other competitor countries who compete to benefit from these type of partnering.
the real problem is that the goverment wants 51% of the stakes of any company involved in the extraction of lithium, that and the taxes makes over 70% of the profits for the goverment that wont invest anything in the bussines
Is that why China is becoming the next superpower? Neoliberalism failed. It's time to move on.
@@Aphores This is not problem for private investors, they are free to invest their money on other projects where they make profit more. The free trade is free trade. Then Chilean government and their peoples will develop their reserves with their capital or with other partners. The free market based on business as usual is open.
I think we're already too late. And wait for the endless discussions to come. In a short time lithium will be less important, and maybe replaced with sodium batteries.
This is very unlikely, because even if Sodium makes its way up the latter, it will have a hard time to crack the Notebook computer and mobile phone market and in spite of wording inside the Video, these 2 applications together still outweigh Cars in global Lithium consumption. Not to speak about high end BEV applications who will stick to Lithium for longer regardless of lower cost alternatives until these leave their drawbacks behind.
👏🏽👏🏽👏🏽 go Chile 🇨🇱
Afghanistan reportedly sits on an estimated $1 trillion worth of rare earth minerals, including huge deposits of lithium. The Islamist rulers have banned the extraction and sale of lithium since reclaiming power in Afghanistan in August 2021 after the withdrawal of US troops from Afghanistan. 1:29 [The New Indian]
Chile is the second largest producer of lithium and holds the world's third largest reserves of the metal. Demand for lithium is expected to soar amid the transition to renewable energy around the world and the growth in electric vehicles that are powered by lithium batteries. 18:00 [CNBC]
Mientras China apuesta por dar valor agregado desde Chile otros esperan simplemente llevárselo como ha sido con el cobre, si esa lógica no cambia China tiene todas las de ganar y no solo en Latinoamerica.
PD: No, no vote por este gobierno de aprendices (Boric) pero con respecto a la matriz productiva y exportadora es necesario avanzar.
No matter how batteries of the future are made they will power electric motors and thats a key advantage. Because and movement of electrons from batteries will be able to turn the motor and will then not be 100% reliant on ine one batter technology. Plus metal are recyclable where its Impossible to recycle furl once it has been burned in an ICE vehicle.
These pieces are truly great, good to have added here.
I don't understand what the guy from Arteaga says when he says ".. that's not the way people used to do business". Half the economy of China is predicated on this principle. Is he saying China has been unsuccessful in wrangling multinational companies?? Good god.
I think he is talking about Europeans.
"think of the poor businesses :("
Are you saying Apple invests with Beijing? I don’t think so. Please clarify.
Boric's position seems very clear and forward looking, famously backwards Chilean companies and analysts may simply not understand it.
When has Latin America ever been forward-thinking?
We need to use the new technology that's Ben made and under testing with great success.
This one is about to not be testing but working for real this year it uses 98% less land and gets 10 to 20 times more lithium in 3 to 5 months rather then 18 to 24 months.
Fake news.
If they are evaporating the water from the highly saline solution using the energy of the sun, why aren't they powering the pumps with solar panels?
Solar panel cost money, the sun does not.
@@izaakbrummitt1992 they are pumping water, probably with a diesel generator during the day. Might as well use solar panels instead so they don't have to pay for fuel.
I'm sure they might do that. These systems are pretty old already. Maybe they start using them now since it got so cheap now. + You need a lot of energy to activate the lithium in the brine. They will use solar cells for that in the future as well I'm sure.
A 20 horsepower pump that would be a small diesel trailer would be replaced by a solar powered pump that would require something like 2300 square feet of solar panels.
@@pepperonish no idea what square feet are( I use metric) but it seems to me like they got the place for it. Look at those huge water basins.
Thanks
Awesome polluting of the environment.
Quisiera darle las gracias por este interesante video !.
If the lithium producers were to install a reverse-osmosis system to treat the raw brine, perhaps it could be worth t in letting them provide pure water to the local communities, and send the super-concentrated brine to evaporation pans where production cycles would be shortened.
I had the same thought, with boiling and steam recondensation. Wonder what technical problems I am missing...
I guess you are missing nothing, it's just cheaper to flood an area probably.
There are technical solutions (osmosis, thermal distillation), for the problem of water loss by evaporation and that is the great environmental barrier to open new tenders or approve the expansion of existing ones. But the industry is stagnant due to a political problem and we all know that all Chileans will be the most affected by their decisions.
@@javierRC82857 Postulating that ALL Chileans will be affected by [x] policy... is something of a stretch. Even a policy which proclaimed that every male child must be put to death, the Bible tells, failed.
They need to move to "ultrafiltration" like in Reversed Osmosis.
Bring the water up, filter out then
salts and then pump it back down.
"We didn't see a single electric car when we're there"
To be fair, Chile several electric buses on its public transport system.
We are the best country of Chile
It’s not nationalization but a strong effort of protecting your resources instead of losing control and sell out to companies. That region of Chile has important natural resources that are at risk should development and mining expand.
Amazing. Thank you.
Good for Chile !
They always find 1 or 2 indigenous people to say that there are communities living in the middle of the desert and that they won't be able to love because a project like this
So the sun bakes that water contained with harmful metals. Right into the atmosphere from all humans and animals to breathe. Good job, sounds sooo green and clean. Farce
11:21 to 11:25 "The U.S. has determined that it needs to have domestic battery..." take that out of context lol.
Well done and accurated information, 👍
People shouldn't be allowing this fullstop. 😊
Chile needs to accelerate this process as much as it can. The window will be short this time.
Excellent documentary!
Propaganda. No talk of the climate and environmental impact of those lithium pools
Saludos desde
Santiago de Chile
🇨🇱😎👍
It's AWESOME that a government can RESPECT THE ENVIRONMENT. 75k cars is AMAZING for EV's. ALL of this mining for precious metals cost the Earth so much worse than Gas. Renewables should only be Nuclear Reactors. That would reduce needs for 89%. That's good enough to reduce emissions
75k cars is slightly less than what Tesla produces in 2 months.
Among the Organisation for Economic Co-operation and Development (OECD), Chile is one of the most unequal countries. It is estimated that the richest 1% captures 17% of the total tax revenue, while the wealthiest 10% receives over 50% of all income. Private companies are stealing our resources and making a profit from them. They will use all means of pressure they know, from political instability to financial bullying.
ua-cam.com/video/elSBMWpGPww/v-deo.html
I laughed out loud when she said that more research is needed. "More research is needed...", "It's an open question..." was also said by the tobacco, oil, and sugar industries.
chile is on hot demand again
Excellent report.
Chile better get while the getting is good. There’s a good chance that lithium won’t be used in EVs in the future.
I hope they don’t too salty about it
Chile has a lot of copper too.
Argentina's lithium deposits are immense.
Let us take it to the ball court ⚽️ 🏀 🏈.
The winner 🥇 gets their way.
The looser gets to keep the head of the winner as a consolation.
~Q'uq'kumatz
Look at all that clean green energy being produced and conserving the planet 🤡 🐑
Chile es el mejor país de Chile 🇨🇱
Why? Because Americans think South America is their backyard and should sell everything at a banana price. LOL
UA-cam is 🇺🇸
"The price is sky rocketing" Said MR Wir Wilson after a 60% price drop in 5 months
Good report
Great story, I’d like to believe it has no agenda but you know it’s CNBC….
Esas ganancias producto de la explotación del litio el gobierno debe asignarlas para vivienda y salud
Proper made Li batteries are to be sold everywhere these days, the fabrication process might be bought, professionals to handle the production are plenty on the country.
You probably just need a handful of engineers to understand the basic chemical process and the process of producing large scale, high quality Li ion baterries.
Politics and decisions are another stuff..
Very well done, & very informative. Thank you.
Lithium is a chemical element and key component of electric vehicle (EV) batteries that's also known by another name: “white gold.” That's because in a future powered by batteries, from our electric cars to our smartphones, lithium is quickly becoming the most valuable commodity on the planet.
Lithium is integral to the realization of decarbonization goals and the sustainable future that is being built around the world. Already omnipresent in consumer electronics, lithium-ion batteries are powering electric vehicles and being used as energy storage for renewables. 2:34 [EnergyX; Popular Mechanics]
It's ironic how people complain about wars being fought over oil, and now it is looking like wars will be fought over lithium and cobalt and... ????
That's cool that the Chilean people seem like they are better off just chilling in their sunshine than making a bunch of money off of mines. There is probably fierce demand for that land from large businesses so I'm sure they will try to influence the situation however they can to make money out there. One thing I would be concerned about is the urban populations a lot of mines will create based on unsustainable resource extraction practices, you got to take care of that additional population after the mines dry out may be better in the long run to just go slowly with it. I wonder how bad their problems are with poverty and homelessness now, like do they actually need the tax money to immediately fix that? I was waiting for the journalist to interview someone who represents the ghetto about it
the problems is: the pubic companies here in Chile are highly inefficient. CODELCO tis the main copper mining company dependent from the government of Chile was created after Salvador Allende nationalized the copper mines in the 70's, now is highly in debt due to bad business practices, they sold hundred of thousands of tons of coper to China for 10 years at a price of 1.5 dollars when the market prices was of 3 dollars. this year CODELCO decreased the amount that contributed to the Chilean government to a mere 2 B of dollars a year, while one of the smaller America mining companies working in Chile paid 6B dollars in taxes and royalties. all public companies in Chile are highly inefficient, unions are really important and they get rich bonuses even if the company is lost money, a lot of his directors of this companies are in the position just because they are collaborators of the party that the president belongs, the corruption is HIG!. nothing comparted with developed countries. as an example, the indigenous communities never had a voice in the implementation of this new plan by the government, the politician talk to gain the votes, the company that produces most pollution in the country is a public one: CODELCO nobody can sue them because they are from the government.
Now it turns out that Chile wanting to protect their interests is a “crossroad” and worrying, nah fam, we good. Do it cleanly, pay what’s due and you all can do business with Chile, not so complicated.
*ALL RAW MATERIAL EXPORTING NATIONS SHOULD SAY NO TO RAW MATERIAL EXPORTING. FORCE COMPANIES TO COME IN TO PRODUCE BATTERY 🔋 IN THEIR OWN COUNTRIES USING THEIR OWN LABOUR!!*
I feel like people aren't getting it. It's not enough to produce manufactured goods, you also have to be competitive with the world's current producers of manufactured goods... What makes me as an American decide to buy a Lithium-Ion battery from Chile instead of China or India or even my own country? I can tell you it won't be loyalty to Chile, it would need to be cheap AND better than their competition to even be worth the time. So if they decided to do all the EV battery manufacture in Chile itself the odds are you'd be selling them at cost or even a loss just to compete with the current battery manufacturers.
Mexico got lucky that the USA signed a free trade pact with them and thus manufacturing jobs went to Mexico very fast due to cheaper labor and no export costs. An important note though is that Mexico still hasn't quite caught up with China or even India for that matter in getting it's manufacturing to be truly pushing themselves to developed status. That being said Mexico IS getting there...
It's easy to say that. in fact batteries not only contain lithium, but also nearly 100 other materials. it means Chile needs to import dozens of other raw materials and parts If chile want to manufacture batteries, which will increase a lot of costs
SPOKEN LIKE A TRUE SOCIALIST. TELL ME, HOW IS THAT GOING TO WORK WHEN THE COUNTRY PRODUCING COBALT OR NICKEL REFUSES TO EXPORT THEIR NATURAL RESOURCES TO, SAY CHILE?
Oh yeah, EV is so clean!
Resign hake
SQM is a company I'd had planned to invest in the future but I didn't know about the other company Albemarle. I had plans to move to Chile but my plans changed.
Let me clarify things a bit about SQM:
At its founding (1968), this 'private company' was created as a 'Mixed Mining Company' between individuals and the State of Chile (in other words, it was a state company after all) under the government of Don Eduardo Frei Montalva. It was conceived for the exploitation, processing and commercialization of potassium nitrate and specialty fertilizers such as iodine, potassium and lithium. In mid-1983, in the midst of the dictatorship, the company began its privatization (because according to them, it was not profitable for the country) which materialized in 1988 being 'sold' (given almost as a gift) to Pinochet's then son-in-law, Julio Ponce Lerou.
Unfortunately, over time, SQM has been linked to many judicial problems of a political nature.
It should be noted that the company in the 1st government of Piñera (in mid-2012), took over 100% of the lithium extraction, delivering only 7% of the profits to the state. Of said extraction, it was calculated that it would be close to 100 thousand tons for 20 years, at the end of 2022 it will exceed 140 thousand.
There is still lithium ore left so that the current government, under the creation of a new state company (ENALI - Empresa Nacional Del Litio), can generate profits for the state and that not only private companies take everything that future sales can generate of the ore, either raw or refined... and even, as in batteries (if they come to create a company with private or state contributions, that manufactures them).
Awwww....
I say give the foreign companies what they want but make them pay a little for the cleanup. Get money from the lithium and help the country. But of course there is always greed in the governments.
Chile has Lithium, But American companies are extracting lithium.😮
That is the problem Chile should not make any deal with usa. Chile won't get any profits, everything goes to usa company and usa government.
85% of the extraction is in possession of the Chilean company SQM while only 15% is on Albemarle, the USA company. And the woman from Albemarle said that in Chile they pay higher taxes than in any other country
That's the thinking that makes a lot of poor countries sit on their prime material and not extract at all, losing the whole market. Extracting materials means tons of spending and a lot of technology that most countries simply don't have.
This is so bad for the environment and people living close to this area
How many communities has it affected
All these supply chain issues and for some reason the government is still giving out money to go buy EVs that could of been used help the homeless or something
Make one about cobalt please ^^
Big, Oil use cobalt in gas refeinery
There is no “life changing” opportunity with lithium for Chile. Sure, it’s an exploitable resource but all we can expect from it are taxes low enough for us to be competitive with the large list of countries producing lithium.
As I write this lithium has become older technology regarding state of the art technology in batteries. All that’s left is the spawn of time in which “non electric” western car companies still use lithium before they can transition to sodium batteries (China has the lead here).
Greetings from Chile.
So weird that they used diesel engines to power the pumps, why don’t they use batteries? Lithium batteries charged with all that sun…
The demand is NOT at an all time high.
The workers should be paid more. But we must extract the litium in a way so we don't destroy the chilean nature.
It's unfortunate I can't invest into Chile as a private investor (of the public market)
You will be able to invest in the construction of a battery manufacturing plant when the uuss or china decide to start manufacturing batteries in Chile.
Stocks: NYSE: ALB and NYSE: SQM