The lithium miner, the world’s second largest producer of the white metal, has approved additional measures to protect corporate data considered confidential from China'a Tianqi, which recently bought almost a quarter of the Chilean company.
SQM Mining News
The internal review found “significant errors” in CCHEN’s accounting of the sales of the world’s top lithium producers Albemarle and SQM between 1984 - 2015.
The 18-month remediation plan includes a new online system to monitor SQM's extraction rates of both brine and fresh water from beneath the salt flat.
SQM said the previously announced delays were partly offset by high prices and 25% growth in demand in 2018 on sales to producers of electric vehicles.
While lithium giants like SQM and Albemarle tangle with one another over scarce lithium brines and water, a beautiful lithium mine in Nevada’s Clayton Valley is taking shape.
Albemarle says it expects to ultimately receive approval to produce more lithium from Chilean Nuclear Energy Commission (CCHEN).
While the decision is final and not subject to appeal, one legal hurdle remains — Pampa Group, which controls SQM, earlier this month filed an additional appeal with Chile’s TDLC antitrust court.
Nutrien’s executive vice-president Michael Webb, described Julio Ponce, the Chilean miner’s top shareholder and former chairman, as a “hypocrite” and urged him to “look beyond himself."
On Oct. 11, Chile's Constitutional Court put the brakes on a $4 billion deal allowing the sale of A 24 percent stake in SQM to China's Tianqi Lithium Corp.
The Constitutional Court said it would hear arguments in the case on Oct. 22.
The country's antitrust court has approved a deal between the competition regulator and Tianqi, allowing the Chinese miner to buy a nearly one-quarter stake in lithium producer SQM .
Partners may lose their right to develop the Mt Holland lithium project after a recommendation by a unit of the West Australian government that regulates mining leases.
Chile is preparing major new restrictions on the extraction of water from the lithium-rich Salar de Atacama salt flats, home to top lithium miners Albemarle and SQM.
Playbook follows success in the iodine market
The $87.5-million deal is the latest Chinese acquisition of a lithium project in South America, following Tianqi Lithium’s decision to buy 24% of SQM for $4.1 billion, which has not yet been approved by Chile’s antitrust regulator.
Short selling of shares in lithium miners SQM, Albemarle, Galaxy and Orocobre has ballooned this year, reflecting a sign of growing scepticism.
The bond had an annual interest rate of 4.5 per cent and a duration of 15 years, Calichera said in a note to the market regulator.
Chilean lithium miner SQM on Wednesday night announced the resignation of its chief executive Patricio de Solminihac.
Unexpected leadership changes within a day at the world’s two largest lithium producers underscore concerns over a lack of executive experience in the industry amid a nascent boom for the battery metal.
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.
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.