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Molymet Abandons Plans to Manufacture Battery Parts in Chile

Metal News - Published on Tue, 16 Jul 2019

Image Source: Molymet
Chile's Molymet has canceled a project to manufacture battery parts in Chile, becoming the second of three companies to abandon the initiative just over a year after gaining guaranteed access to cheap Chilean lithium produced by Albemarle. The Chilean molybdenum producer won in early 2018 a government auction to build a factory of battery parts in the desert located in the north of the South American nation. In return, local development agency Corfo had promised Molymet a discount lithium supply for 27 years.

In a presentation to the regulator Molymet said his board of directors had voted to "complete the company's participation and involvement" in the project.

Molymet did not say in the presentation why he had decided to abandon his plans.

Source :

Posted By : Ratan Singh on Tue, 16 Jul 2019
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