Chile's Strategic Moves in Lithium Ventures
Chile's Economy Minister Alvaro Garcia anticipates a major lithium partnership between Codelco and SQM will be finalized before 2026. The deal's completion is imperative due to political pressure. Moreover, Garcia expects new permits and laws to streamline the investment process, notably for lithium production and environmental assessments.
In a significant push for Chile's lithium industry, Economy Minister Alvaro Garcia is confident that a crucial partnership between Codelco and SQM will be secured before the current administration concludes in 2026. This prospective collaboration stands as a key objective amid pressure from potential successors who may reconsider the deal.
The joint venture, poised to grant Codelco majority control over SQM's lithium production in the Atacama region, encountered delays amid complex regulatory approvals. Nevertheless, optimism prevails with expectations of Chinese regulatory approval by October.
Furthermore, Garcia emphasizes imminent legal reforms to fast-track permitting processes, essential for sustaining investment momentum in the sector. Despite some legislative setbacks, progress on sector permits promises to accelerate project developments.
(With inputs from agencies.)
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