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Chile mining body says new lithium projects needed beyond SQM, Albemarle

The head of one of Chile's top mining associations on Tuesday urged the government to speed up efforts to expand the lithium industry without waiting to hammer out deals with miners SQM and Albemarle as it seeks to boost state control. Chile's government under President Gabriel Boric this year announced plans to only allow public-private partnerships for lithium contracts, and appointed state run copper producer Codelco to negotiate with SQM and Albemarle, the only producers in Chile of the light metal used for electric car batteries. Codelco expects to reach a deal with SQM by the end of the year ahead of the 2030 expiration of the company's contract, but details about what the agreement could entail are scarce.

Chile mining body says new lithium projects needed beyond SQM, Albemarle

The head of one of Chile s top mining associations on Tuesday urged the government to speed up efforts to expand the lithium industry without waiting to hammer out deals with miners SQM and.

Chile mining body says new lithium projects needed beyond SQM, Albemarle

Chile mining body says new lithium projects needed beyond SQM, Albemarle
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Chile mining body says new lithium projects needed beyond SQM, Albemarle

Chile mining body says new lithium projects needed beyond SQM, Albemarle
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Chile miners, facing higher taxes, seek faster permits, lower energy costs

Now that Chile has passed an increase in mining royalties, copper miners are pushing for incentives to keep investing in production of the metal needed for the renewable energy revolution, with steps such as cuts in energy costs, speeded-up permit approvals and other incentives. Chile's Mining Council, which comprises large private firms, estimates this will ultimately boost the average tax rate of 44.7%, exceeding the top of the range of 38-to-44% in competing countries such as Peru and Australia. "We're hoping that this competitive disadvantage is somehow compensated with other public policy actions that encourage investment," said the association's head of studies, Jose Tomas Morel.

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