Chile is offering new contracts to tap the world’s biggest reserves of lithium in a effort to reclaim market share as demand for the battery metal surges. The government is making bidding rules available to local and foreign firms for five quotas of 80,000 metric tons apiece. Winners will get seven years to explore and develop projects and 20 years of production. The state will charge a royalty for the allocation of quotas and variable payments during production. Read More: Lithium Miners Are Going to Compete for Biggest Lode in Americas The South American nation has been losing market share as new frontiers open up ... (full story)