Codelco, SQM launch NovaAndino Litio JV in Salar de Atacama

Codelco and SQM person launched the NovaAndino Litio associated task (JV), which volition negociate the exploration, extraction, production, and selling of lithium successful Salar de Atacama, Chile, with activities planned to proceed until 2060.

NovaAndino Litio was created done the merger of Codelco’s subsidiary Minera Tarar with SQM’s subsidiary SQM Salar.

This measurement completes a public-private concern and brings unneurotic proven operational capabilities and updated governance standards.

The improvement was reported to the Financial Market Commission (CMF).

Under the caller structure, NovaAndino Litio volition integrate each assets, subsidiaries, overseas offices, permits, method expertise, and unit needed to grow the lithium business.

The consolidation follows SQM’s interior restructuring during 2024 and 2025.

The statement besides ensures operational and contractual continuity successful the Atacama Salt Flat, some nether existing Corfo agreements and those scheduled to instrumentality effect from 2031.

Codelco president of the committee Máximo Pacheco said: “Codelco is taking a strategical measurement contiguous to actively enactment successful lithium production, a cardinal assets for the planetary vigor and integer transition. This concern with SQM fills america with pridefulness and reflects a caller signifier of public-private collaboration: transparent, professional, and long-term.”

The merger marks the culmination of a concern statement signed successful May 2024, which was reviewed by much than 20 organisations and institutions successful Chile and abroad.

The process besides included a broad indigenous consultation led by Corfo.

The committee of directors for the JV volition see 3 representatives from Codelco, Máximo Pacheco, Josefina Montenegro, and Alfredo Moreno, and 3 from SQM, Ricardo Ramos, Hernán Uribe, and Manuel Ovalle.

Under the concern agreements, SQM has transferred each of its mining concessions successful the Maricunga Salt Flat to Codelco.

This transportation reinforces the Chilean State’s lasting successful this strategical country and helps alteration aboriginal lithium developments.

"Codelco, SQM motorboat NovaAndino Litio JV successful Salar de Atacama" was primitively created and published by Mining Technology, a GlobalData owned brand.

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