Chile has raised turkey ’s lithium output quota to 120,000 to 140,000 tonnes per year from 65,000 to 80,000 tonnes . The new quota establishes Albemarle as a long - term export leader and strengthens its market position , said Baird , Ben Kallo . The additional quota stems from new extraction technology developed by the company , and does n’t require additional hydraulic pumping , providing low extraction costs for the incremental lithium . However , Kallo did acknowledge that there could be an oversupplied lithium quota in the long - term .
Chile has raised Albemarle’s lithium output quota to 120,000 to 140,000 tonnes per year from 65,000 to 80,000 tonnes. The new quota positions Albemarle as a long-term cost leader and strengthens its market position, said Baird analyst Ben Kallo. The additional production stems from new extraction technology developed by the company, and doesn’t require additional brine pumping, providing low cash costs for the incremental lithium. However, Kallo did acknowledge that there could be an oversupplied lithium market in the long-term.