Lithium Producer SQM Sees Global Demand Growing 25% This Year

Top lithium producer SQM said it sees world demand for the battery metal growing about 25% this year, after reporting record quarterly sales volume as the industry emerges from a global glut.Author of the article:You can save this article by registering for free here. Or sign-in if you have an account.(Bloomberg) — Top lithium producer SQM said it sees world demand for the battery metal growing about 25% this year, after reporting record quarterly sales volume as the industry emerges from a global glut.Subscribe now to read the latest news in your city and across Canada.Subscribe now to read the latest news in your city and across Canada.Create an account or sign in to continue with your reading experience.Create an account or sign in to continue with your reading experience.The operator of the world’s richest brine deposit said volumes in the fourth quarter rose to over 66,000 metric tons, more than 50% from the same period the previous year, according to an earnings report. Demand for lithium will be led by electric vehicles and energy storage systems, the company said.It’s the first earnings report since SQM brought Chile’s state copper behemoth Codelco as a partner in the Atacama operations. The firms are targeting a roughly 30% production increase in the coming years at the sprawling complex.Get the latest headlines, breaking news and columns.By signing up you consent to receive the above newsletter from Postmedia Network Inc.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.Called Nova Andino Litio SpA, the SQM-Codelco 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 as the industry emerges from a prolonged period of oversupply that dragged down prices. To be sure, while spot prices have more than doubled from a June low, they’re still more than 70% below a 2022 peak.The 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.—With assistance from Yi Wei Wong and Jose Orozco.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.365 Bloor Street East, Toronto, Ontario, M4W 3L4© 2026 Financial Post, a division of Postmedia Network Inc. All rights reserved. Unauthorized distribution, transmission or republication strictly prohibited.This website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.You can manage saved articles in your account.and save up to 100 articles!You can manage your saved articles in your account and clicking the X located at the bottom right of the article.