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, CEO Ricardo Ramos said in a presentation to investors in New York this week.