May 24, 2018 / 1:04 PM / 5 months ago

Chile's SQM says to triple production of lithium by 2021

SANTIAGO, May 24 (Reuters) - Chilean miner SQM said on Thursday that it would invest $525 million to more than triple its lithium production capacity in Chile through 2021 as demand for the key ingredient in electric vehicle batteries continues to surge.

The top lithium producer said in a statement accompanying its first quarter results that it expected global demand for the white metal to grow “close to 20 percent this year and next year.”

Reporting by Dave Sherwood and Antonio de la Jara

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