Brazil Seeks $2.7 Billion Investment for Lithium Production

Brazil’s Ministry of Mines and Energy said on Thursday that it hopes to attract over $2.7 billion in foreign investments to develop its lithium industry by the end of this decade. Lithium is a vital component for batteries, including those employed by electric vehicles.

From left, electric cars from Nissan, Tesla, and Toyota are presented at a news conference in Los Angeles on Dec. 13, 2013. Worldwide demand for lithium was about 350,000 tons (317,517 metric tons) in 2020, but industry estimates project demand will be up to six times greater by 2030. (Nick …