Ma’aden extracts lithium from seawater

Its trade ministry unveiled a plan in March to invest 241.7 billion won over the next three years to build warehouses for storage of critical minerals.

Ganfeng Lithium will set up a spodumene plant which will start production by the end of the year.

The Andean nation is the world's second-largest lithium producer.

To access the higher quota, Albemarle would need to prove the use of sustainable technology such as DLE, among other things.

In January, AustralianSuper said it would double its lithium exposure in the next five years.

The key to social acceptance was active engagement with local communities and pro-active communicating, said CEO of EIT RawMaterials.

The Indian mines ministry is also encouraging other state-owned companies to scout for critical minerals overseas.

The EU Critical Raw Materials Act is designed to guarantee a supply of lithium, copper and other minerals for green technologies.

Production at the new plant was expected to begin around the end of 2025, representing a $290 million investment.