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Lithium Contracts Auction Suspended, No Data Scheduled

  • A Chilean court on Friday ordered the suspension of a lithium contracts auction that took place earlier this week, part of a plan by the South American country to boost production of the coveted mineral used in car batteries.
  • The Copiapo Court of Appeals accepted an injunction filed against the bidding process as it investigates the matter
  • Chile's mining ministry, which organized the lithium auction, said on Friday that it was analyzing the decision. It added that the order "does not mean the final cancellation of the auction. It just implies that it is temporarily suspended as the legal claim is resolved." (Mining Weekly)
  • President-elect Gabriel Boric, who will take office in March, has criticized the auction and said he wants to create a state lithium company to exploit the metal.
  • Apart from the central bank traders survey expected on Friday, there are no domestic data points scheduled.

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