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: