Tianqi Lithium Corp of China has called for a shareholder vote at Chile’s SQM regarding a lithium agreement being negotiated with state-owned copper miner Codelco, citing a need for transparency and clarity in the deal discussions. With a 20% stake in SQM, Tianqi emphasized the importance of shareholder approval for any agreement reached between SQM and Codelco, as part of Chile’s efforts to enhance state involvement in the lithium sector. The proposed joint venture between SQM and Codelco aims to strengthen government control over Chile’s lithium industry, given the country’s significant role as the world’s second-largest lithium producer. Despite an extension of the deal deadline by two months, SQM highlighted complexities in the negotiations, including ongoing audits, during a recent shareholder meeting. Tianqi expressed concerns over the lack of clarity in certain aspects of the agreement and stressed the necessity for shareholders to have a say in the final deal to ensure transparency and inclusive decision-making. While SQM reaffirmed key terms outlined in a preliminary agreement, including Codelco’s future stake in the partnership, Tianqi’s call for broader shareholder involvement underscores the importance of open communication and accountability in such strategic industry partnerships.
Tianqi Urges Shareholder Voting on SQM-Codelco Lithium Deal in Chile