off-the-wire

Tianqi says Chile regulator decision has no major impact to 2024 financial result

Kitco Media
By Reuters
Published:
Updated:
Reuters
Tianqi says Chile regulator decision has no major impact to 2024 financial result teaser image

China’s Tianqi Lithium said on Wednesday that Chilean authorities’ rejection of a request for a vote on a planned lithium joint venture between state-run Codelco and miner SQM is not expected to have a major impact on its 2024 financial results.

Tianqi owns a fifth of SQM and is the miner’s second-largest shareholder.

Chile’s financial regulator said the Codelco-SQM joint venture does not need to face a vote by SQM shareholders. The deal would give the state a key role in producing lithium, while letting SQM boost output of the battery metal.

Chile is the world’s second-largest producer of lithium.

(Reporting by Ethan Wang, Siyi Liu and Ryan WooEditing by Peter Graff)

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