Both companies reported the requirement to comply with various approvals from national and international entities to begin joint lithium production in the Salar de Atacama.
Codelco and SQM have taken a new step towards finalizing the partnership that seeks to produce lithium in the Salar de Atacama.
This afternoon, the National Economic Prosecutor's Office began the period of investigation or review of free competition records necessary for the approval of the Association Agreement between both companies, signed on May 31 of this year.
In a statement, SQM explained that this legal requirement is part of the so-called 'Preliminary Conditions', which were disclosed at the time of sealing the agreement.
These include technical and environmental requirements, such as the corresponding indigenous consultations.
Specifically, reference is made to the approvals of the Chilean Nuclear Energy Commission, the Comptroller's Office
General of the Republic and other free competition bodies at the international level.
In the case of the review by the National Economic Prosecutor's Office (FNE), the operation was notified on July 30, 2024 and the study process began today, for which the agency has 30 business days.
To date, the process is progressing according to the schedule established by the teams, both in relation to the procedures with the corresponding authorities and in relation to the constitution of the new company. It is expected to be completed during the first part of 2025.
"The strategic alliance between Codelco and SQM allows Chile to now be a leading player in global lithium production, taking advantage of the potential offered by the lithium market in a timely manner," SQM highlights.
The new alliance also guarantees resources for the State, for the Antofagasta region, and for current and future generations of the communities of the Salar de Atacama.
From an environmental perspective, the project as a whole considers new investment in technology and innovation that allows integrating the environmental sustainability of the Salar with operational efficiency.
