SANTIAGO, July 27 (Reuters) - Chinese lithium miner Tianqi has appealed a ruling by Chilean financial regulator CMF that shareholder approval is not needed to proceed with a major tie-up set to boost state control over the country's lithium sector, it said on Saturday.
Interesting times, Cantankerous James
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Hi lesv, a good find. Chile is the only substantial lithium producing country other than Australia that has a Free Trade Agreement with the USA, required for benefits provided by their Inflation Reduction Act. I see a huge supply gap for our spodumene once the Americans get some converters built.
I found the last line of the article you posted somewhat amusing in a tragic way:
Chile’s SQM recently partnered with state-owned copper giant Codelco as the country aims to expand its lithium production.
This "partnership" is the result of the Chilean government taking, grabbing, purloining, sequestering, or some would say stealing, 50% of the Atacama project from SQM and handing it over to Codelco (state owned) who will manage the holdings. It should be noted that one big loser is Tianqui who bought a 20% interest in SQM for $4B a couple of years ago. The Chilean government has said they want a fair share of the mineral wealth to benefit their poor population.
However, Tianqui is not giving up without a fight:
