SQM eyes expansion as lithium prices jump

Santiago, Chile

ONE of the world's largest lithium producers is looking to expand into a new country as prices surge to record highs amid a nascent electric-vehicle boom led by car makers such as Tesla Inc and Mitsubishi Corp.

Soc Quimica & Minera de Chile SA is considering opportunities to establish a foothold in a fourth country, according to company officials, who asked not be named because the matter hasn't been made public.

SQM operates in Chile's Atacama desert, home to the world's largest known lithium reserves, is developing a mine in Argentina and has entered into an Australian joint venture. The Santiago-based company once looked into a project in …