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Chile's antitrust court rejects appeals against Tianqi deal

By: Reuters     31st October 2018 Chile's antitrust court on Tuesday rejected appeals filed against its authorization of Tianqi Lithium's $4.1-billion purchase of a stake in lithium producer SQM, Tianqi said on Tuesday. The decision marks the latest legal victory for Tianqi, a Chinese miner seeking to acquire 2%of Chile's SQM,... 

Lithium giant clears hurdle in $4.1bn SQM stake buyout

By: Bloomberg     26th October 2018 China’s Tianqi Lithium cleared a major hurdle in its bid to buy a $4.1-billion stake in SQM, the world’s second-largest producer of the mineral used in electric-vehicle batteries. On Thursday, Chile’s constitutional court declared inadmissible a suit questioning whether an agreement between... 

Chilean court freezes sale of stake in lithium giant SQM to Tianqi

By: Reuters     12th October 2018 SANTIAGO – A Chilean court on Thursday suspended the sale of a coveted stake in lithium producer SQM to China's Tianqi Lithium, saying it will consider a lawsuit filed by the Chilean company's controlling shareholders, who oppose the deal. The lawsuit, filed on Wednesday, alleges a previous... 

Chile studying possible lithium trade on LME

By: Reuters     11th October 2018 Chile has called for lithium to be traded on the London Metals Exchange to provide greater "clarity" about its value, Mining Minister Baldo Prokurica said on Wednesday. At present, lithium producers negotiate contracts with buyers but the terms of the deals are not made public. Critics say this... 

SQM controlling shareholder moves to block stake sale to China's Tianqi

By: Reuters     11th October 2018 The controlling shareholder in Chilean lithium producer SQM on Wednesday filed suit with Chile's Constitutional Court to block a deal allowing the sale of nearly one-fourth of the miner to China's Tianqi Lithium. The lawsuit alleges that Chile's antitrust court last week failed to follow due... 

Chilean lithium miner seen profiting from 'explosive' EV growth

By: Bloomberg     10th October 2018 Electric vehicles may be commonplace sooner than most people think, and that could signal a bonanza for Chilean lithium producer Soc. Quimica y Minera de Chile. Larrain Vial, Chile’s largest brokerage firm, sees global EV penetration at almost 21% by 2025, well above the market consensus of 8%... 

Chile weighs arbitration with top lithium producer Albemarle

By: Reuters     4th October 2018 The Chilean state agency that oversees lithium mining in the country´s Atacama salt flat will decide within a week whether to take top producer Albemarle Corp to arbitration in a contract dispute, an attorney for the agency said on Wednesday. Maria Elina Cruz, an attorney for Chile state... 

Albemarle eyes future as pure-play lithium market leader

By: Reuters     28th September 2018 Albemarle Corp, the world's largest lithium producer, aims to eventually end its dependence on two smaller units to fund growth as global appetite surges for electric-powered vehicles and consumer goods, its chief executive said in an interview. Tesla and other automakers have helped make... 

Foreign-backed miner hopes to begin Chilean lithium project in 2020

By: Reuters     28th September 2018 Foreign-backed Salar Blanco expects to begin construction on its lithium mining project at the beginning of 2020 in Chile's north, once its environmental permit is approved by the government. The approval process for the necessary environmental permit for the initiative, which includes an... 

Chilean lawmakers study extra tax for copper, lithium mines

By: Reuters     14th September 2018 Chile's congress is studying a proposal for an additional royalty payment for copper and lithium miners operating in the country to bolster the development of the regions around their deposits, according to a draft seen by Reuters. The initiative, which was put forward by opposition legislators... 

Chile's lithium miner SQM asks court to reject Tianqi agreement

By: Reuters     14th September 2018 Chilean lithium miner SQM objected to the terms of a deal drawn up between the country's anti-trust regulator and the Chinese miner Tianqi which hopes to buy almost a quarter of SQM, its lawyers told the country's anti-trust court on Thursday. An attorney representing SQM told Chile’s anti-trust... 

Kidman, SQM may have to forfeit lithium mine after Australian govt ruling

By: Reuters     13th September 2018 Australia's Kidman Resources and Chilean partner SQM may lose their right to develop the Mount Holland lithium project after a recommendation by a unit of the West Australian government that regulates mining leases. Kidman had asked the Western Australia Department of Mines for an exemption to... 

Inside Albemarle's quest to reinvent the lithium market

By: Reuters     30th August 2018 As global demand for lithium hits overdrive, Albemarle Corp is investing millions of dollars to engineer specialised types of the light metal for electric car batteries, part of a strategy to remain the niche market's top producer. The pivot comes as battery makers such as Panasonic Corp, the... 

In Chilean desert, global thirst for lithium is fueling a 'water war'

By: Reuters     29th August 2018 On Chilean water regulator Oscar Cristi's desk, a small white espresso cup teeters atop piles of documents and loose folders that appear on the point of collapse, perhaps an apt metaphor for the growing water crisis in parts of the Andean country. Sitting in his eighth-floor office adjacent the... 

Chile's SQM expects lithium prices to dip in second half

By: Reuters     27th August 2018 Chilean lithium miner SQM said it forecast lithium prices dropping as much as 10% in the second half of the year compared to the first but stressed it saw no problems with potential water restrictions in the Atacama salt flat where it operates. CEO Patricio de Solminihac said on a second-quarter... 

Chile says to clamp down on water rights in lithium-rich Salar de Atacama

By: Reuters     24th August 2018 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, the head of the country’s water authority told Reuters on Thursday. Water authority chief Oscar Cristi said in an exclusive... 

China's Ganfeng buys SQM's stake in lithium project for $87.5m

By: Reuters     14th August 2018 Chile's SQM, one of the world's largest lithium producers, said on Monday that it agreed to sell its 50% stake in the Cauchari-Olaroz project in Argentina to China's Ganfeng Lithium for $87.5-million. The deal also stipulates that Ganfeng will pay SQM an additional $50-million if the project's... 

SQM says to overtake Albemarle as world's top lithium producer by 2022

By: Reuters     9th August 2018 Chilean miner SQM said on Wednesday it would overtake competitor Albemarle as the world's top producer of lithium by 2022, boosting its production capacity that year to 28% of the world's total versus the US-based Albemarle's 16%. SQM Vice President Daniel Jimenez said in a presentation at a... 

Chile lithium exports more than double in July from previous year

By: Reuters     7th August 2018 Chile's exports of lithium carbonate reached $85-million in July, more than double that of the same month the previous year, as demand and prices for the key component in electric vehicle batteries continues to rise, the central bank said on Tuesday. The value of exports of the metal from Chile,... 

C-suite moves rock lithium as industry expands in battery boom

By: Bloomberg     29th July 2018 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. On Wednesday, Albemarle announced the replacement of its lithium president John Mitchell, who... 

Part-owner of Chile lithium producer SQM sells $275m bond

By: Reuters     29th July 2018 Chile's Pampa Calichera, one of the companies through which businessman Julio Ponce holds his ownership stake in lithium producer SQM, said it sold bonds in the local market on Friday for the equivalent of $275-million. The bond had an annual interest rate of 4.5% and a duration of 15 years,... 

Canada’s Nutrien sells equity position in Arab Potash

By: Mariaan Webb     23rd July 2018 Canada’s Nutrien, created through the merger of Agrium and Potash Corporation of Saskatchewan, on Monday announced the sale of its 28% interest in Arab Potash (APC) to China’s SDIC Mining and Investment for $502-million. The sale followed last month’s auctioning of its remaining stake in Chile... 

Chile's SQM seeks approval for $450m lithium plant expansion

By: Reuters     18th July 2018 Chilean miner SQM on Wednesday began the process of seeking government approval for a $450-million expansion of its lithium carbonate plant, which could more than double its production as demand rises for the key element in the manufacturing of batteries. SQM said in an environmental impact... 

Foreign-backed miner drops lawsuit against Chile for control of lithium deposit

By: Reuters     10th July 2018 Foreign-backed miner Salar Blanco, which is 50%-owned by Lithium Power International, has dropped its lawsuit against Chile to block state-run Codelco from exploiting a lithium deposit where both have claims, the Australian-listed smallcap announced. Lithium Power International said that... 

Cumbre will drive investment, collaboration in Latin America

By: Jessica Oosthuizen     6th July 2018 The focus of this year’s Investing in LatAm Mining Cumbre, one of the world’s largest mining investment conferences run by the same team behind the Investing in African Mining Indaba, is to drive increased investment and collaboration in Latin American mining, says content developer and... 

Chile's SQM decides not to hire ex-chair Ponce as adviser

By: Reuters     25th June 2018 Chile lithium miner SQM said on Friday it had decided against hiring former chairman Julio Ponce as an adviser, reversing a decision that had sparked criticism from politicians and Chile's business community. SQM announced plans to hire Ponce earlier in June, just months after the miner inked a... 

Chile anti-trust regulator to probe Tianqi purchase of SQM stake

By: Reuters     16th June 2018 Chile's anti-trust regulator FNE said on Friday it would open an investigation into the effects on the market of China's Tianqi purchase last month of a 24% stake in SQM, one of the world's top lithium producers. Chile's government under former President Michelle Bachelet in March filed a... 

Chile creates committee to oversee lithium contracts

By: Reuters     12th June 2018 Chile's government said on Monday it was creating a committee to supervise lithium contracts the state has with local miner SQM and US-based Albemarle Corp, deals that are key to positioning the country as a top producer of the white metal. The committee will aim to ensure concession agreements... 

Nutrien auctions remaining shares in lithium miner SQM for nearly $1bn

By: Reuters     1st June 2018 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... 

In lithium hot spot, ghost towns recall another boom gone bust

By: Bloomberg     25th May 2018 Chile knows what it is to be expendable. Ghost towns that pepper the nation’s north are a painful reminder of a time when it was replaced almost overnight as the world’s top fertiliser producer. These days, the decaying buildings and rusty plants serve as a harbinger for miners embarking on a... 

Chile high court declines to weigh in on lithium spat at Maricunga

By: Reuters     24th May 2018 Chile's constitutional court said it would not get involved in a dispute between a foreign-backed miner and state-run copper miner Codelco over adjoining lithium deposits in the Maricunga salt flat, according to a court document seen by Reuters on Wednesday. Salar Blanco, 50%-owned by... 

Join the conversation about the future of Latin American Mining at Mining Cumbre

17th May 2018 Latin America is an exciting, growing destination for mining investment, development and exploration projects. With an attractive mining environment and geology rich with natural resources, the region is one of the world’s largest producers of iron ore, copper and gold. The LatAm Mining Cumbre is... 

Private firm takes on Codelco for control of Chile lithium deposit

By: Reuters     15th May 2018 A foreign-backed miner has sued Chile to block state-run Codelco from exploiting a lithium deposit where both have claims, according to a lawsuit filed in March that will be carefully watched by potential investors being courted by the country's new government. The little-known and remote... 

Private firm takes on Codelco for control of Chile lithium deposit

By: Reuters     9th May 2018 A foreign-backed miner has sued Chile to block State-run Codelco from exploiting a lithium deposit where both have claims, according to a lawsuit filed in March that will be carefully watched by potential investors being courted by the country's new government. The little-known and remote... 

Wealth Minerals switching gears from project accumulation to exploration

By: Henry Lazenby     8th May 2018 The largest holder of Chilean lithium brine assets Wealth Minerals expects to have a drill turning in the ground at its Trinity project before month-end, the company announced on Monday. The Vancouver-based company said transient electromagnetic surveys have identified highly conductive zones,... 

Banchile auctions 1.5m shares in Chile's SQM, raises $76m

By: Reuters     21st April 2018 Brokerage firm Banchile on Friday auctioned 1.5-million series-A shares in Chile lithium miner SQM at a sale price of 30 000 pesos ($50.36) per share, raising a total of $76-million. SQM, which operates primarily in Chile's Salar de Atacama, is one of the world's largest and most cost-efficient... 

Chile's SQM says lithium industry needs at least $10bn investment over 10 yrs

By: Reuters     18th April 2018 The global lithium industry will need $10-billion to $12-billion of investment over the next decade to meet surging demand amid the electric vehicle boom, an executive of Chilean miner SQM said on Wednesday. Demand for the metal is set to grow by 600 000 t to 800 000 t of lithium carbonate... 

Shareholders in Chilean lithium firm SQM move to shake up governance

By: Reuters     3rd April 2018 Two major shareholders in Chilean lithium giant SQM proposed in a regulatory filing on Monday to change the company's governing statutes in a way that could block other shareholders from gaining control of the firm. Pampa Calichera and Potasios de Chile, both controlled by Chilean businessman... 

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