What is the targeted annual lithium production capacity for the SQM-Codelco Novandino venture, and how does it compare to current output?

The Novandino venture targets an annual lithium production capacity of as much as 470,000 metric tons, compared with its guidance of roughly 270,000 tons for this year — representing a planned increase of more than 70%.

How long will it take for the SQM-Codelco venture to reach its new production target, and what major transition is involved?

It will take several years — 'certainly not this decade' — to achieve the 470,000-ton capacity; under the current framework, output will first rise gradually to about 300,000 tons before beginning a seven-year transition to an integrated production system incorporating technologies including direct lithium extraction.

SQM-Codelco Venture Maps Path to Higher Lithium Output in Chile

Jul 3, 2026

SQM and Codelco plan a $3 billion expansion to boost their Novandino lithium joint venture output by over 70% to 470,000 metric tons annually. The project incorporates direct lithium extraction technology to meet growing battery demand despite a multi-year timeline.

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