RPT-FOCUS-How lithium-rich Chile botched a plan to attract battery makers [Reuters]
POSCO Holdings Inc. American Depositary Shares (Each representing 1/4th of a share of) (PKX)
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Source: Reuters
RPT-FOCUS-How lithium-rich Chile botched a plan to attract battery makers - Reuters 7 Min Read (Repeats for additional clients with no changes to text) By Dave Sherwood SANTIAGO, July 17 (Reuters) - In March 2018, the Chilean government unveiled big news: Corporate investors, including South Korean electronics giant Samsung, would build three factories in Chile to produce battery parts for electric vehicles. Chile had lured the companies with an enticing offer. In exchange for helping the South American country, the world’s No. 2 miner of lithium, jumpstart its own EV battery industry, the firms would get a guaranteed supply of the coveted metal at attractive prices for nearly three decades amid a global race to lock down supplies. Now that arrangement is falling apart. Chile’s government has failed to deliver the bountiful, bargain-priced lithium it had promised in a fast-changing market, according to a Reuters review of regulatory filings and internal documents from a state developm
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