Lithium venture in Chile in talks with EV firms to invest in mine project

A joint venture valued at $1.5-billion to $2-billion that wants to become Chile’s third lithium producer is in talks with investors to bankroll its project.

Simco Lithium, owned by a Singaporean investment fund and a Chilean business group, is exploring the sale of a non-controlling stake, said Sebastian Yang, a board member representing the Simbalik fund. While the around $600-million project is too small to appeal to major mining firms, there is interest from battery and electric-vehicle makers.