Blackstone Executive Vice Chairman Tony James says he's less optimistic now than before that the U.S.-China trade war could be resolved, but even a smaller deal could help...World Economyread more
The massive market transformation this month that some on Wall Street called a "once in a decade opportunity" might have just been a one-off technical move because of taxes.Marketsread more
The Pentagon will deploy U.S. forces to the Middle East on the heels of the attack on Saudi Arabian oil facilities, United States Secretary of Defense Mark Esper announced...Defenseread more
CNBC did a deep dive through the most recent Wall Street research to find stocks that analysts say are underappreciated.Marketsread more
Shares of MasterCard are up 46% this year, and 1120% since 2011, getting a boost from the strong U.S. consumer.Investingread more
CNBC sat in on an "empathy training" at Amazon PillPack's Somerville offices, which is part of new hire orientation.Technologyread more
Trade with China is the 'big unknown' for the Federal Reserve as it decides how best to support the U.S. economy, says Council on Foreign Relations Director of International...Futures Nowread more
Lobbying experts said the visit is likely an attempt to be in lawmakers' ears as they consider legislation that would impact Facebook.Technologyread more
Yardeni Research's Edward Yardeni believes the U.S. economy is picking up steam.Trading Nationread more
Iran's audacious drone and cruise missile attack on Saudi Arabia's oil producing facilities has provided a critical test yet for the Trump administration's foreign policy. A...Politicsread more
rise@ (Recasts lede, adds detail on trading of B-series shares on Wednesday)
SANTIAGO, Sept 11 (Reuters) - Shares in Chilean lithium producer SQM jumped on Wednesday after it announced plans to invest about $2.1 billion in the next five years to strengthen its production amid an expected increase in demand for the ultralight battery metal.
About $1.332 billion of this investment would be in lithium operations, with further amounts going towards growing its nitrates and iodine capacity and maintenance between 2019 to 2023, Chief Executive Ricardo Ramos said in a presentation to investors in New York on Tuesday.
B-Series shares in SQM were up more than 5% in trading on Santiago's blue-chip stock exchange following the promise of beefed-up investment.
Demand and prices of lithium have been stifled in recent months by global trade tensions, the scaling back of electric vehicle subsidies in China and new output.
But Pablo Altimiras, senior vice president for SQM`s lithium and iodine division, said he expects solid demand in the coming years.
"The fundamentals support a vision of significant growth in the coming years," he said.
Ramos said he expected lithium sales volume to reach 173,000 tonnes by 2025 through operations in Chile and Australia.
"The opportunities for growth in the lithium business could result in a gross profit contribution of about $1 billion by 2025," the company`s presentation said.
The average lithium price is expected to be between $10 and $15 per kilo by 2025, compared to the current $14.50, the company predicted, with demand set to grow between 16% and 20% by 2025.
"Considering both demand fundamentals and supply cost structure, equilibrium price could be higher than historic average, even in double digits," the company presentation said.
It is also awaiting feasibility studies on its joint venture Mount Holland project https://www.reuters.com/article/kidman-resources-ma-wesfarmers/update-1-australi a s - k i d m a n - r e s o u r c e s - b a c k s - 5 3 4 - m l n - w e s f a r m e r s - t a k e o v e r - i d U S L 4 N 2 2 Y 5 G 2 in Australia. (Reporting by Fabian Cambero and Dave Sherwood; writing by Aislinn Laing, Editing by Bernadette Baum and Rashmi Aich)