Lithium Output at SQM-Codelco Venture Edges Out Forecasts

Article content(Bloomberg) — SQM’s lithium partnership with Codelco churned out slightly more of the battery metal than forecast last year as the industry continues to emerge from a global glut.Sign In or Create an AccountEmail AddressContinueor View more offersArticle contentThe Nova Andino Litio SpA venture produced 233,000 metric tons of lithium carbonate equivalent in 2025, Chairman Maximo Pacheco said in a Monday presentation at the BMO metals and mining conference in Florida. That output was up from 2024 levels and compares with the latest guidance of “close to 230,000 tons” delivered by SQM in November.Article contentWe apologize, but this video has failed to load.Try refreshing your browser, ortap here to see other videos from our team.Article contentArticle contentChile’s state-owned Codelco has a controlling interest in NovAndino’s lithium assets, while SQM controls the operations at northern Chile’s sprawling Atacama salt flat. SQM is scheduled to deliver fourth-quarter results on Friday, offering more guidance on the partnership.Article contentTop StoriesGet the latest headlines, breaking news and columns.There was an error, please provide a valid email address.Sign UpBy signing up you consent to receive the above newsletter from Postmedia Network Inc.Thanks for signing up!A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againInterested in more newsletters? Browse here.Article contentNovAndino, which has the world’s biggest source of lithium from brine, is expanding in a bet on low costs and a bullish outlook for battery demand, targeting a roughly 30% production increase in the coming years. Output is set to rise gradually to 300,000 tons before the end of the decade, NovAndino Chief Executive Officer Carlos Díaz said last month.Article contentThe venture aims to capture double-digit growth in global lithium consumption as large-scale battery storage adds to demand from electric vehicles. The expansion could pressure higher-cost rivals.Article contentThe Atacama operation employs an evaporation technique that uses less water, chemicals and energy than hard-rock mining, as practiced in top producer Australia. NovAndino is preparing to submit a proposal to regulators to introduce new techniques such as direct extraction, which could further lift output.Article contentArticle contentMeanwhile, Codelco’s Maricunga lithium partnership with Rio Tinto Group continues to wait for antitrust approvals from Chile and China before signing a shareholders’ agreement, Pacheco said in his presentation. He said Codelco produced 1.33 million tons of copper from its mines in Chile last year, with capital expenditure reaching a record $5.28 billion.Article contentOversight of Codelco’s El Teniente underground copper mine, which suffered a deadly collapse in July, will be integrated into the company’s executive committee due to its size and complexity, Pacheco said, adding that the design of this process will be supported by an independent consultancy.Article contentTrending Posthaste: Forget tariffs, here's how Trump is really making money off Canada News IBM shares plunge as Anthropic touts COBOL modernization efforts Innovation Loblaw plans $2.4-billion investment in 2026, including 70 new stores Retail & Marketing Subscriber only. Garry Marr: There's a great divide in Canada's office real estate market and it's creating big winners and big losers Subscriber only Commercial Real Estate Xi Gains Leverage Before Trump Summit After Tariff Reversal PMN Business Share this article in your social networkCommentsYou must be logged in to join the discussion or read more comments.Create an AccountSign in Join the Conversation Postmedia is committed to maintaining a lively but civil forum for discussion. Please keep comments relevant and respectful. Comments may take up to an hour to appear on the site. You will receive an email if there is a reply to your comment, an update to a thread you follow or if a user you follow comments. Visit our Community Guidelines for more information. Posthaste: Forget tariffs, here's how Trump is really making money off Canada News IBM shares plunge as Anthropic touts COBOL modernization efforts Innovation Loblaw plans $2.4-billion investment in 2026, including 70 new stores Retail & Marketing Subscriber only. Garry Marr: There's a great divide in Canada's office real estate market and it's creating big winners and big losers Subscriber only Commercial Real Estate Xi Gains Leverage Before Trump Summit After Tariff Reversal PMN Business