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BYD, Tsingshan Drop Chile Lithium Processing Projects After Rout

Chinese companies BYD and Tsingshan withdrew from lithium cathode production projects in Chile in early 2025.
The withdrawals followed a sustained global decline in lithium prices that undermined the projects' economic viability.
BYD had proposed a $290 million facility in Antofagasta aimed at producing 50,000 metric tons of lithium iron phosphate cathode material annually, while Tsingshan planned a $233 million plant in Mejillones with an annual output target of 120,000 metric tons of the same material.
Lithium carbonate prices surged to around $81,560 per ton in November 2022 before dramatically dropping to under $10,000 by early 2025, creating financial challenges for upstream projects reliant on higher prices.
The withdrawals represent setbacks for Chile's 2023 National Lithium Strategy, though authorities remain committed to attracting investment amid ongoing market volatility.

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The Rio Times

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Falling Lithium Prices Derail Major Chinese Projects in Chile

Sources from Chile’s economic development agency and government confirm that Chinese firms BYD and Tsingshan have withdrawn from major lithium processing projects in Chile. Both companies had planned to invest a combined $523 million in new plants, aiming to produce lithium iron phosphate (LFP) cathodes and batteries essential for electric vehicles. These projects, announced with […]

15 days ago·Brazil

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Caixin Global

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China’s BYD, Tsingshan Scrap Plans for Chile Lithium Plants as Price Collapses

China’s BYD, Tsingshan Scrap Plans for Chile Lithium Plants as Price Collapses - Steep fall in lithium prices forces Chinese companies to back out of multimillion dollar deals to build battery material factories in Chile

16 days ago

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Emol

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Embassy of China asserts that BYD and Tsingshan companies "have never said they have finished their investments in Chile"

From the Government they had confirmed the decision of both companies to desist from their lithium projects in the north. However, the embassy maintained that "they remain willing to continue the dialogue".

16 days ago

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La Tercera

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Marcel dedramatizes the resignation of Chinese firms to develop lithium projects in Chile - La Tercera

The Minister of Finance, Mario Marcel, came to the point that the Chinese companies BYD and Tsingshan stopped developing projects in the north of Chile. According to the Financial Diario, a series of changes in market conditions and bureaucracies, since both companies had been selected by Corfo as producers of batteries and lithium methods to date, made the firm desist from promoting projects in national territory. “These firms accessed these pr…

17 days ago·Chile

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Bloomberg

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BYD, Tsingshan Drop Chile Lithium Processing Projects After Rout

Two Chinese companies dropped plans to develop lithium-processing projects in Chile after the price of the battery metal tumbled, undermining the nation’s bid to add more value to its mineral exports.

17 days ago·United States

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