TAINTED LITHIUM

3rd April 2015 By: Martin Creamer - Creamer Media Editor

TAINTED LITHIUM

The glistening brine pools of this large lithium mining operation in the Atacama desert of northern Chile belie the storm that is rocking Chilean mining company Soc Quimica Y Minera de Chile (SQM) for allegedly syphoning off SQM funds to a right-wing party linked to the disgraced 1973-to-1990 Augusto Pinochet dictatorship. Three executives of Canada’s Potash Corporation, which owns 32% of SQM – a lithium, iodine and plant nutrient producer – have quit the board of the Santiago-based and New York-listed SQM over the initial reluctance of the company’s controlling top brass to cooperate with the Chilean prosecutors probing a senatorial election campaign that is linked to an eventual deputy mining Ministerial position plus a currently-under-way corruption trial. The alleged $10-million in irregular payments was reportedly made between 2009 and 2014.