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11-May-2022 - SQM - Sociedad Química y Minera de Chile S.A.


SQM AND LG ENERGY SOLUTION SIGN AN AGREEMENT TO PROMOTE ADDED VALUE AND
TECHNOLOGY IN LITHIUM

© SQM

SQM and LG Energy Solution (LGES) continue to expand their business
relationship: To this end, Myung Hwan Kim (left, CPO of LG Energy Solution) and
Ricardo Ramos (CEO of SQM) signed a memorandum of understanding, the aim of
which is to develop joint investment projects and thus make a decisive
contribution to greater sustainability worldwide.

Zoom in

‹ ›

A new step in the field of innovation and technology was taken by SQM and LG
Energy Solution (LGES), leading companies in the production of lithium and
batteries respectively, after signing a memorandum of understanding (MOU) to
strengthen their business relations, since through which they undertake to study
and develop joint investment projects at different stages of the value chain of
the electromobility industry and thus contribute decisively to a more
sustainable world. This agreement complements the lithium supply agreement
already in force between both parties.

Potential joint investment projects include the production of cathodes and
lithium hydroxide, as well as recycling projects in strategic locations, which
will be studied in greater detail by SQM and LGES. Among these, the agreement to
discuss the construction of a cathode material production plant in Chile.

In this regard, the General Manager of SQM, Ricardo Ramos, stated that “this
agreement consolidates our commitment to the development of world-standard
lithium products, with high added value and in line with the sustainability of
our operation and respect for our environment. We are proud that a technological
company of the prestige and relevance of LGES trusts us to innovate in Chile and
thus continue contributing to the progress of our country”. 

LG is today a world leader in battery production with 30 years of experience in
advanced battery technology. In response to the MOU, Myung Hwan Kim, the
company's CPO, stated that:

“SQM is a valuable business partner for LG Energy Solution. By joining forces,
we look forward to further extending our long-standing collaboration that will
keep us in a leadership position in the dynamic sector of secondary batteries,
as well as in sustainable growth.”

Lithium carbonate and lithium hydroxide are an essential input in the production
of the cathode material contained in the batteries used in electric cars. SQM
manufactures both products entirely in Chile, starting with the extraction and
concentration of brines high in lithium content in the Salar de Atacama, which
are then transported to its facilities located on the outskirts of the city of
Antofagasta, where it is located. the largest lithium carbonate and lithium
hydroxide production plant in the world, where they are processed and refined to
the quality standards required by the industry. SQM's production process is
characterized by having one of the lowest carbon, water and energy footprints in
the lithium industry.

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SQM - SOCIEDAD QUÍMICA Y MINERA DE CHILE S.A.


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 * lithium
 * lithium hydroxide

 * cathode materials
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