Information related to negotiations with CODELCO

To make information more accessible to all interested parties, we have compiled all relevant information about the deal with Codelco.

Summary: On April 20, 2023, President Boric announced a new National Lithium Strategy which, among other things, has the objective being to providing for the Chilean state’s participation in lithium-related activities in the Salar de Atacama.

Under the National Lithium Strategy, Codelco was designated by Corfo to lead negotiations with SQM to seek participation in SQM’s operations in the Salar de Atacama before the expiration of its lease agreement in 2030 in exchange for an extension of SQM’s contract to continue exploiting and producing lithium in the Salar de Atacama.

On December 27, 2023, SQM and Codelco signed a nonbinding MOU, which, among other matters, established a framework for the terms and conditions of the definitive agreements for a joint venture through which SQM’s subsidiary, SQM Salar, may continue to exploit mineral resources in the Salar de Atacama until 2060. Corfo has granted to Codelco’s subsidiary, Minera Tarar, the rights to exploit the Salar de Atacama from 2031 to 2060, which will be contributed to the joint venture. If the parties are unable to agree on definitive agreements for the proposed joint venture, either the Chilean government or SQM could allow the lease to expire in 2030 following its terms.

Below, you may find all news and documents related to SQM and Codelco’s deal in chronological order, starting from the latest on top:

Date Title & comment
April 24, 2024 April Extraordinary Shareholder Meeting Minutes
April 24, 2024 Elements of Economic Analysis of the Agreement between SQM and Codelco
April 24, 2024 April Extraordinary Shareholder Meeting- All documents
Please scroll down the page and click "2024 April Extraordinary"
April 10, 2024 SQM announces Extraordinary Shareholder Meeting
March 21, 2024 March Extraordinary Shareholders Meeting Minutes
March 21, 2024 March Extraordinary Shareholders Meeting Comments
March 21, 2024 March Extraordinary Shareholder Meeting- All documents
Please scroll down the page and click "2024 March Extraordinary"
March 20, 2024 Amendment of the MOU with Codelco
SQM informs the market about an extension of the previously agreed period for the signing of definitive documents of the Agreement with Codelco
February 28, 2024 Fourth quarter 2023 financial results
CEO refers to negotiations with Codelco on page 2
January 15, 2024 SQM resumes its operations in the Salar de Atacama
January 13, 2024 SQM announces temporary detention of operations in Salar de Atacama
December 27, 2023 SQM Announces a Memorandum of Understanding with CODELCO
December 27, 2023 Memorandum of Understanding
November 16, 2023 SQM Third Quarter 2023 Earnings Conference Call
CEO refers to the progress relating negotiations with Codelco on page 2
November 13, 2023 SQM Replies to Press Comments about Negotiations with Codelco
May 26, 2023 SQM CEO's Press Conference Statement
May 26, 2023 SQM Announces Beginning of Negotiations with Codelco
April 24, 2023 SQM informs about Meeting with CORFO
April 21, 2023 SQM comments on National Lithium Strategy Announcement