Codelco to acquire a majority stake in SQM.

The National Copper Corporation, a developer and producer of copper ore and by-products, agreed to acquire a majority stake in Sociedad Química y Minera, a Chilean chemical company. Financial terms were not disclosed. “The projects we are going to develop with Codelco will be extraordinarily positive for Chile, the Antofagasta Region, communities, workers and for both companies. The partnership will have access to 100% of our infrastructure and plants, including the world’s largest lithium product refining center inAntofagasta. We are committed to compliance with the highest environmental standards and an ongoing process of dialogue with Atacameño communities to protect the salt marsh’s ecosystem. With the Codelco-SQM partnership, as of 2031 Chile will receive 85% of the operating margin through different channels,” Ricardo Ramos, SQM CEO.