SANTIAGO (Reuters) - China’s Tianqi Lithium Corp said on Wednesday it would nominate two Chileans and a U.S. businessman to the board of lithium miner SQM, candidates seen as ‘safe choices’ for the world’s No. 2 lithium producer as it faces booming demand.
Tianqi last year paid $4.1 billion for a near-quarter stake in SQM, as Chinese companies scoured the globe for the ultralight battery metal needed to ramp up Chinese production of electric vehicles.
Lithium is a key component in the batteries that power everything from cellphones to electric cars.
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