May 20, 2020 / 5:12 PM / 10 days ago

Chile´s SQM says lithium output to beat expectations in 2020

SANTIAGO, May 20 (Reuters) - Chile lithium miner SQM said on Wednesday it expects its output of the electric vehicle battery metal to be above budget in 2020 despite the ongoing coronavirus pandemic.

The world´s No. 2 lithium producer said it had nonetheless decided to scale back non-essential capital expenditures in an effort to keep workers at its facilities safe amid the outbreak.

The company late on Tuesday announced that it planned to slash its 2020 capex plan by nearly a quarter to $350 million, from $450 million previously, though it said its expansion plans remain on track. (Reporting by Dave Sherwood Editing by Nick Zieminski)

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