https://www.engineeringnews.co.za
Copper|Financial
Copper|Financial
copper|financial

Tianqi weighs legal actions after Chile regulator clears SQM-Codelco deal

24th June 2024

By: Reuters

  

Font size: - +

SANTIAGO - China's Tianqi Lithium said on Friday it was evaluating possible legal action against a Chilean regulator's ruling allowing a tie-up between No. 2 lithium producer SQM, which it owns around a fifth of, and Chile's state-run copper giant Codelco.

Chile's financial regulator this week said a planned lithium joint venture between SQM and Codelco can proceed without a vote by SQM shareholders, which would have included Tianqi.

Tianqi has repeatedly pressed for the matter to be put to a shareholders' vote. It can appeal the regulator's decision to the courts.

"Our company, in compliance with its fiduciary duty and responsibility to its investors, is evaluating all possible legal actions and will take all pertinent measures in accordance with the law to enforce its rights and interests as a shareholder of SQM and an international investor," Tianqi said in a statement.

The Codelco-SQM agreement is a major plank of the Chilean government's aim to take a stronger role in lithium production, in a country that has only two producers, SQM and US-based Albemarle. Chile is the world's second-largest producer of the metal used in batteries for electric vehicles.

Edited by Reuters

Comments

Showroom

Booyco Electronics
Booyco Electronics

Booyco Electronics, South African pioneer of Proximity Detection Systems, offers safety solutions for underground and surface mining, quarrying,...

VISIT SHOWROOM 
John Thompson
John Thompson

John Thompson, the leader in energy and environmental solutions through value engineering and innovation, provides the following: design, engineer,...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Photo of Martin Creamer.
On-The-Air (28/06/2024)
28th June 2024 By: Martin Creamer

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:1.285 1.455s - 190pq - 2rq
Subscribe Now