Ann: Quarterly Reports - December 2017, page-149

SQM, like the U.S.-based Albemarle, would be required to supply Chile with lithium at a favorable price, a stipulation intended to incentivize value-added production in Chile.

If the higher production also comes with a big incentive to build battery factories in Chile, that will harm China based battery manufacturers. To some degree this harms hard rock producers who are dependent on Chinese markets eventually - depending on the scale of that aspect of the deal.