"There is a legitimate concern on the side of the vehicle manufacturers."
SQM Mining News
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.”
Tesla and SQM were exploring opportunities after Tesla expressed interest in buying "important volumes" of lithium hydroxide from SQM.
There is a lot at stake for Potash Corp, which purchased its interest in SQM piecemeal a decade ago and could stand to earn billions in the transaction.
Sociedad Quimica Y Minera said on Thursday its ongoing legal dispute with Chilean authorities over royalty payments may not be resolved until end of 2018.