Why is BMC launching a lithium battery project in Brazil?

"We are excited about this historic collaboration which will not only boost the local economy but also position Brazil at the forefront of technological innovation in the lithium battery sector. This project will create thousands of jobs and promote sustainable economic growth," says BMC CEO Eduardo Javier Muñoz.

Who is launching a battery company in Brazil?

Brazilian battery manufacturer Moura, fuel-cell producer Electrocell, and a consortium formed by Companhia Brasileira de Metalurgia e Mineração (CBMM) and Japanese Toshiba, also plan to establish a presence in the segment.

How much lithium does Brazil produce?

Brazil produced only 600 metric tons (mt) of lithium in 2018, accounting for about 0.7% of the global market. The country’s entire output of the mineral was mined by Companhia Brasileira de Lítio (CBL), a company co-owned by CODEMGE.

Who makes lithium-ion rechargeable batteries?

A Moura-owned lead-acid battery facility, now retrofitted to produce lithium-ion rechargeable batteries Moura Group Moura Group, a leading local manufacturer of lead-acid car batteries, has established a lithium battery R&D center at its headquarters site in Belo Jardim, Pernambuco State.

Where is lithium located in Brazil?

The mineral rights encompass 852 hectares in Coronel Murta, within Minas Gerais state - often known as Brazil's "Lithium Valley." This region, also home to the holdings of US-listed Atlas Lithium, is famous for its significant lithium deposits.

How will Brazil's lithium resources impact economic growth?

The growing global focus on Brazil’s lithium resources has already attracted international attention, securing the country’s status as a core mineral market. As Brazil’s mining capacity expands, spurred on by foreign investments like BYD's, it could potentially cause broader economic growth and job creation within the region.