Wallace Refiners has launched its 2021 Outlook, which offers the most comprehensive coverage of precious metals markets in the new year. Trillions of dollars were pumped into financial markets in 2020 and that won’t come without consequences. Economists expect that investors will be Bracing For Inflation in 2021.
(Wallace Refiners) – Sociedad Quimica y Minera de Chile (SQM) yesterday announced that its Board has approved initiating the process to increase the company’s capital of up to US$1.1 billion.
According to the company’s statement, the capital increase proposed by the Board is intended to finance part of its “ambitious” US$1.9 billion investment plan for the years 2021-2024 which will allow the company “to expand lithium, iodine and nitrates operations.”
Approximately US$1 billion will be invested into the lithium carbonate expansion in Chile, from 70,000 metric tons to 180,000 metric tons, the lithium hydroxide production expansion from 13,500 metric tons to 30,000 metric tons in Chile and the Mount Holland project in Australia.
SQM has five principal business lines: specialty plant nutrition, lithium and derivatives, iodine and derivatives, industrial chemicals and potassium.
In the Atacama Desert, located between Chile’s first and second regions, SQM has exclusive access to the world’s best and largest reserves of caliche ore and brines.
The company possesses the most extensive reserves of iodine and nitrate, as well as the highest concentrations of lithium and potassium on record.
In addition, in 2017 the company began diversifying geographically by acquiring new resources to extract lithium from spodumene in Western Australia (in partnership with Kidman Resources).
Disclaimer: The views expressed in this article are those of the author and may not reflect those of Wallace Precious Metals The author has made every effort to ensure accuracy of information provided; however, neither Wallace Precious Metals nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Wallace Precious Metals and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.
