SANTIAGO – Canadian fertiliser company Nutrien auctioned its remaining stake in Chile lithium miner SQM on Friday for nearly $1-billion, the last step in meeting regulatory commitments after the company was formed in January by the merger of Agrium and Potash Corp of Saskatchewan.
The nearly 20.17-million B-series shares in SQM sold on Chile's IPSA stock exchange for 31 000 pesos ($49.05) per share.
China's Tianqi Lithium Corp last month said it would buy nearly a quarter of the lithium miner for $4.1-billion, gaining it coveted access to a key ingredient in rechargeable batteries that power mobile phones and electric cars.