US EditionBYD, Tsingshan Drop Chile Lithium Processing Projects After Rout
- BYD and Tsingshan have canceled their proposed investments in lithium cathode manufacturing facilities in Chile due to the ongoing decline in lithium prices as of early 2025.
- The withdrawals followed a sharp lithium price peak of RMB 590,000 per ton in November 2022, then a prolonged decline pressured project viability.
- Tsingshan had intended to invest $233 million in a facility with an annual output capacity of 120 metric kilotons of lithium iron phosphate, while BYD planned a $290 million plant expected to yield 50 metric kilotons of the same material each year.
- Corfo stated, "The global market conditions showed a sharp drop in prices," which influenced the investment decisions of selected companies.
- The withdrawals reflect how volatile global lithium markets continue to affect investments in Chile’s lithium processing sector despite its resource significance.
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Marcel dedramatizes the resignation of Chinese firms to develop lithium projects in Chile - La Tercera
The Minister of Finance, Mario Marcel, came to the point that the Chinese companies BYD and Tsingshan stopped developing projects in the north of Chile. According to the Financial Diario, a series of changes in market conditions and bureaucracies, since both companies had been selected by Corfo as producers of batteries and lithium methods to date, made the firm desist from promoting projects in national territory. “These firms accessed these pr…
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