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Marcel Says SQM-Codelco Deal Will Allow Chile To Boost Lithium Output

CHILE
EM BulletHomepagemarkets-real-timeBulletEmerging Market News
  • In remarks at the Chile Day event in New York, Finance Minister Marcel said that the successful conclusion of the SQM-Codelco negotiations would allow Chile to boost its lithium output. The partnership will give Codelco a majority stake in SQM’s Atacama salt flat assets.
  • SQM will relinquish a majority stake in these assets in exchange for three more decades of operations in one of the world’s richest sources of lithium. Lithium production is expected to rise from 200,000 tonnes a year towards 300,000 tonnes.
  • Separately, Marcel said that foreign investment is essential to boosting Chile's economic growth, adding that there’s also still ground to cover on monetary policy. He also said that this week’s global peso bond sale and buyback is in line with the government’s liability management plan with a focus on amortisations in the near term.
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  • In remarks at the Chile Day event in New York, Finance Minister Marcel said that the successful conclusion of the SQM-Codelco negotiations would allow Chile to boost its lithium output. The partnership will give Codelco a majority stake in SQM’s Atacama salt flat assets.
  • SQM will relinquish a majority stake in these assets in exchange for three more decades of operations in one of the world’s richest sources of lithium. Lithium production is expected to rise from 200,000 tonnes a year towards 300,000 tonnes.
  • Separately, Marcel said that foreign investment is essential to boosting Chile's economic growth, adding that there’s also still ground to cover on monetary policy. He also said that this week’s global peso bond sale and buyback is in line with the government’s liability management plan with a focus on amortisations in the near term.