UPDATE 1-Chile's SQM says will boost lithium capacity by 2021 [Reuters]
Nutrien Ltd. Common Shares (NTR)
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Source: Reuters
UPDATE 1-Chile's SQM says will boost lithium capacity by 2021 | Reuters Reuters Staff 3 Min Read (Adds details on expansion plan, quotes from CEO de Solminihac, context) By Dave Sherwood and Antonio De la Jara SANTIAGO, May 24 (Reuters) - Chilean miner SQM said on Thursday that it would invest $525 million to boost its lithium production capacity in Chile through 2021 as demand for the key ingredient in electric vehicle batteries continues to surge. SQM , one of the world’s largest producers of lithium and fertilizers, said it would be ready to produce as many as 180,000 metric tonnes of lithium in Chile’s Salar de Atacama salt flat by early 2021, up from 48,000 tonnes currently. “We believe that with demand growing close to 20 percent this year and next year, the market will be able to absorb this additional supply,” said CEO Patricio de Solminihac in a statement accompanying the company’s first quarter results. “Our strategy is to have the installed capacity to react to market deman
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- Nutrien Ltd. (NYSE: NTR) was upgraded by analysts at Berenberg Bank from a "hold" rating to a "buy" rating. They now have a $66.00 price target on the stock, up previously from $60.00.MarketBeat
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