China's Tianqi Lithium to Continue Battle Over SQM Deal
Asianfin--Tianqi Lithium Corp. has pledged to continue its fight for a voice in a significant deal involving one of the world's largest lithium operations, a move the company deems essential for future Chinese investments in Chile. The Chinese firm, which holds a 22% stake in Chilean miner SQM, is pushing for a shareholder vote regarding SQM's partnership with state-owned copper giant Codelco.
The dispute is currently before an appeals court in Chile, with no guaranteed outcome, according to Tianqi CEO Frank Ha. He emphasized that the company is prepared to explore all legal avenues to protect shareholders' interests.
The case centers on a pivotal agreement under which SQM would cede a controlling stake in its valuable Atacama salt flat mine to Codelco in exchange for extended operational rights. This partnership is a key element of Chilean President Gabriel Boric's plan to increase state control over lithium resources.
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