SANTIAGO: Chinese automaker BYD and metals group Tsingshan are backing out of multi-million dollar plans to build lithium cathode plants in Chile, the country’s economic development agency said on Wednesday.
The retreat by the two huge Chinese companies is a blow to Chile’s aim to develop more domestic processing of lithium, a key metal for electric vehicle batteries. Chile is the world’s no. 2 lithium producer.
Both projects were hit by plunging lithium prices, said government economic development agency Corfo, which in 2023 had tapped BYD and Tsingshan for a preferential lithium price deal as part of its efforts to spur investment in Chile.
“The companies selected by Corfo have been affected in their investment decisions by the global market conditions, which have shown a sharp drop in prices,” Corfo said in a statement.
Tsingshan told Reuters it has withdrawn plans for a $233 million project to produce 120,000 metric tons of lithium iron phosphate (LFP). Chile’s national assets ministry told Reuters that BYD filed an intent to withdraw its plans in January.
BYD, the world’s biggest maker of electric cars, declined to comment. BYD last year flagged delays to a planned $290 million plant, which was expected to produce 50,000 metric tons per year of LFP for cathodes.
Chilean newspaper Diario Financiero first reported the scrapped investments.
Chile’s effort in 2018 to encourage lithium-related investments via a pricing deal also fell apart. Chilean chemical company Molymet, China’s Sichuan Fulin Transportation Group Co. , and a joint venture between Korean firms Posco and Samsung for various reasons withdrew their plans.
Tsingshan and BYD would have had access to preferential prices of lithium produced by Chilean miner SQM through 2030, a timeframe that Corfo said also may have influenced the withdrawal of the projects.
In addition, Corfo said Tsingshan had wanted to assign the project development to a unit of the company that had not participated in the bidding process, which Corfo said was not possible.
Corfo last week opened a second bidding process for a similar scheme, this time to provide a purchasing deal with US lithium producer Albemarle through 2043 for companies that commit to lithium-related projects.
Albemarle and the selected investors will be able to use an “alternative form” to determine a price agreement, Corfo said.
China’s BYD, Tsingshan scrap plans for Chile lithium plants as prices plunge
https://arab.news/c466z
China’s BYD, Tsingshan scrap plans for Chile lithium plants as prices plunge
- Retreat a blow to Chile’s aim to develop more domestic processing of lithium
- Chile is the world’s no. 2 producer of the key metal for electric vehicle batteries
US bars five Europeans it says pressured tech firms to censor American viewpoints online
WASHINGTON: The State Department announced Tuesday it was barring five Europeans it accused of leading efforts to pressure US tech firms to censor or suppress American viewpoints.
The Europeans, characterized by Secretary of State Marco Rubio as “radical” activists and “weaponized” nongovernmental organizations, fell afoul of a new visa policy announced in May to restrict the entry of foreigners deemed responsible for censorship of protected speech in the United States.
“For far too long, ideologues in Europe have led organized efforts to coerce American platforms to punish American viewpoints they oppose,” Rubio posted on X. “The Trump Administration will no longer tolerate these egregious acts of extraterritorial censorship.”
The five Europeans were identified by Sarah Rogers, the under secretary of state for public diplomacy, in a series of posts on social media. They include the leaders of organizations that address digital hate and a former European Union commissioner who clashed with tech billionaire Elon Musk over broadcasting an online interview with Donald Trump.
Rubio’s statement said they advanced foreign government censorship campaigns against Americans and US companies, which he said created “potentially serious adverse foreign policy consequences” for the US
The action to bar them from the US is part of a Trump administration campaign against foreign influence over online speech, using immigration law rather than platform regulations or sanctions.
The five Europeans named by Rogers are: Imran Ahmed, chief executive of the Center for Countering Digital Hate; Josephine Ballon and Anna-Lena von Hodenberg, leaders of HateAid, a German organization; Clare Melford, who runs the Global Disinformation Index; and former EU Commissioner Thierry Breton, who was responsible for digital affairs.
Rogers in her post on X called Breton, a French business executive and former finance minister, the “mastermind” behind the EU’s Digital Services Act, which imposes a set of strict requirements designed to keep Internet users safe online. This includes flagging harmful or illegal content like hate speech.
She referred to Breton warning Musk of a possible “amplification of harmful content” by broadcasting his livestream interview with Trump in August 2024 when he was running for president.
Breton responded Tuesday on X by noting that all 27 EU members voted for the Digital Services Act in 2022. “To our American friends: ‘Censorship isn’t where you think it is,’” he wrote.
French Foreign Minister Jean-Noël Barrot said France condemns the visa restrictions on Breton and the four others. Also posting on X, he said the DSA was adopted to ensure that “what is illegal offline is also illegal online.” He said it “has absolutely no extraterritorial reach and in no way concerns the United States.”
Most Europeans are covered by the Visa Waiver Program, which means they don’t necessarily need visas to come into the country. They do, however, need to complete an online application prior to arrival under a system run by the Department of Homeland Security, so it is possible that at least some of these five people have been flagged to DHS, a US official said, speaking on condition of anonymity to discuss details not publicly released.
Other visa restriction policies were announced this year, along with bans targeting foreign visitors from certain African and Middle Eastern countries and the Palestinian Authority. Visitors from some countries could be required to post a financial bond when applying for a visa.
