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Chile Lithium Output Exceeds Forecasts
24 Feb
Summary
- SQM's partnership with Codelco produced 233,000 tons of lithium carbonate.
- The venture anticipates a 30% production increase in coming years.
- New extraction techniques may further elevate output in Atacama.
The Nova Andino Litio SpA venture, a partnership between SQM and Chile's state-owned Codelco, reported slightly higher lithium carbonate equivalent production than anticipated for 2025. Output reached 233,000 metric tons, exceeding the previous year's levels and surpassing the company's guidance of "close to 230,000 tons." This venture, operating at northern Chile's Atacama salt flat, holds the world's largest source of lithium from brine.
NovAndino is embarking on an expansion, targeting a significant production increase of approximately 30% in the coming years, with a goal of reaching 300,000 tons before the end of the decade. This expansion is driven by a bullish outlook for battery demand from electric vehicles and large-scale battery storage, aiming for double-digit growth in global lithium consumption. The operation utilizes an efficient evaporation technique that minimizes water, chemical, and energy usage compared to hard-rock mining.
In parallel, Codelco's other lithium ventures are progressing. The Maricunga lithium partnership with Rio Tinto Group is awaiting antitrust approvals from Chile and China. Codelco also reported significant copper production of 1.33 million tons in 2025 with record capital expenditure. Additionally, oversight of Codelco's complex El Teniente copper mine will be integrated into the company's executive committee.
