Mining
China's BYD and Tsingshan cancel plans for Chilean lithium plants
Sources from the government and BYD, a Chinese automaker, confirmed on Wednesday that they have withdrawn multi-million dollar plans for building lithium cathodes in Chile, which is a major producer. The two Chinese giants' retreat is a blow for Chile, which aims to increase domestic processing of lithium - a metal that is essential to electric vehicle batteries. Chile is ranked as the No. The world's No. Tsingshan has announced that it canceled plans for a $233-million project to produce 120,00 metric tons (LFP) of lithium iron phosphate. Chile's National Assets Ministry said that BYD had filed an intention to...