Expansions by established producers including China's Tianqi Lithium Corp. and North Carolina's Albemarle Corp. probably will leave a small global surplus by year end, but supply disruptions could put the market back into deficit, CRU's Fuentes said. If annual demand for Tesla's Model 3 reaches 700,000 units, as Musk says could happen, the industry will need additional supplies from lithium newcomers. While Chilean copper giant Codelco is looking to enter the lithium business via a partnership at its Maricunga tenements, the project will require deals with some of the salt flat's 40 land owners to make the operation large enough to be profitable. Chile deems lithium to be "strategic," which means would-be producers need authorization from the Nuclear Energy Commission and operating conditions are set directly with the government on a case-by-case basis. Wealth Minerals Ltd. estimates it will take seven years to set up an operation in Chile.