Chilean regulator aims for quick decision on Tianqi-SQM dispute

6th June 2024

By: Reuters

  

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SANTIAGO - Chile's financial regulator said on Wednesday it is aiming to respond as quickly as possible to a complaint from China's Tianqi Lithium over a planned lithium partnership between miner SQM and Chilean state miner Codelco.

Tianqi, which holds about a fifth of shares in SQM, has argued to the regulator that a shareholders' vote is needed to approve the agreement. The deal would give Codelco a majority stake of SQM's lithium operations in Chile's Atacama salt flat.

SQM and Codelco announced the final terms last week but said certain conditions still needed to be met, including a rejection of Tianqi's proposal by Chile's Financial Market Commission (CMF).

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Edited by Reuters

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