Tianqi has repeatedly pressed for the matter to be put to a shareholders’ vote. It will probably attraction the regulator’s determination to the courts.
“Our firm, in compliance with its fiduciary obligation and accountability to its traders, is evaluating all attainable authorized actions and can take all pertinent measures in accordance with the regulation to implement its rights and pursuits as a shareholder of SQM and a world investor,” Tianqi stated in an announcement.
The Codelco-SQM settlement is a serious plank of the Chilean authorities’s purpose to take a stronger position in lithium manufacturing, in a rustic that has solely two producers, SQM and US-based Albemarle. Chile is the world’s second-largest producer of the metallic utilized in batteries for electrical automobiles.
(By Daina Beth Solomon; Modifying by Anthony Esposito and Kylie Madry)