The Competition Commission of India green-lighted the $4.1 billion deal reached in May between the Canadian potash giant and China’s Tianqi Lithium.
SQM Mining News
The country's antitrust regulator is investigating the effects on the market of Chinese miner Tianqi Lithium acquisition of a 24% stake in SQM, the world's second largest lithium producer,
It produced 4,600 tonnes of lithium more than Chile in 2017 boosted mainly by record output at Mt Cattlin and Mt Marion mines.
SQM has retained former chairman Julio Ponce as an adviser despite an agreement to distance himself from the firm to end a long-running royalties dispute.
Chilean lithium producer SQM shares punished after $1 billion of shares auctioned below ruling price.
While lithium today isn’t the linchpin of Chile’s economy (that would be copper), miners are aggressively expanding production.
SQM, world no 3 lithium miner, plans to nearly quadruple capacity in fewer than three years – to the equivalent of 84% of global output last year.
Chilean miner SQM said on Thursday that it would invest $525 million to boost its lithium production capacity in Chile through 2021.
Chengdu-based Tianqi is seeking to almost triple production capacity through 2020.
There is an emerging oligopoly in one of the hottest elements on the periodic table, lithium.
The Asian firm has bought a 24% stake in Chile’s Sociedad Quimica y Minera (SQM), one of the world’s biggest lithium producers.
The Deputy Secretary for Sustainable Mining is scheduled to meet with executives from Australia's largest mining companies and banks.
The world’s largest potash miner said it expected to have an announcement on the matter by the end of June.
Chinese companies continue to aggressively try securing steady supply of lithium, a key ingredient in the making of batteries that power electric cars.
Kidman Resources has chosen a site in Kwinana, Western Australia with Chilean joint venture partner SQM to develop a lithium processing plant.
What the bears seem to have in common is the belief that a rush of new lithium supply will soon hit the market.
If China’s Tianqi grabs a stake in Chile’s SQM, the world’s lowest cost lithium miner, it would mean the top three producers would control at least 80% of the total market, Chile’s government has said.
Soc. Quimica & Minera de Chile SA sits on the world’s richest deposit of lithium and already produces more than 20 percent of the global supply.
SQM, which operates primarily in Chile's Salar de Atacama, is one of the world's largest and most cost-efficient producers of lithium.
"There is a legitimate concern on the side of the vehicle manufacturers."
New investors are being pulled into the mining industry as demand and prices for battery materials like lithium and cobalt spike.
The new proposal would create an exception to an existing company statute that regulates the voting power of SQM's shareholders.
Chile development agency Corfo filed a complaint last week to block the sale of a 32% stake in SQM to China's Tianqi Lithium or any related entities.
Chile’s antitrust regulator FNE will need to review the complaint.
“Look at what’s required over the next 50 years, 60 years, and known lithium on the planet, I don’t think it’s as much as everyone understands it to be.”