Codelco and SQM seal historic alliance for the exploitation of lithium – La Discusión 2024-06-25 21:58:29

This Friday, the state-owned Codelco and the SQM firm sealed a historic alliance for the exploitation of lithium within the Salar de Atacama, which excludes Julio Ponce Lerou from 2031, a scenario that was questioned by the ruling social gathering.

This alliance will permit the creation of a mega firm that can extract lithium between 2025 and 2060, turning into the biggest producer of that mineral in Chile from the merger of SQM Salar and Minera Tarar, which outlined that it’ll first be managed by SQM, and from 2031 by Codelco.

The settlement signifies that the intention is to realize a complete extra manufacturing for the interval 2025-2030 of 300 thousand tons of lithium, whereas for the interval 2031-2060 a lithium manufacturing of 280 to 300 thousand tons per 12 months is outlined.

In financial phrases, beginning in 2031, the State will obtain 85% of the working margin of the brand new manufacturing by way of funds to Corfo, taxes and the earnings that Codelco receives as a shareholder.

Ponce Lerou

SThough within the settlement between Codelco and SQM a clause was agreed that excludes Julio Ponce Lerou – controller of the Pampa Calichera group, proprietor of 26% of SQM and former son-in-law of Augusto Pinochet – from any participation within the new lithium exploitation firm, his brothers and youngsters have been certified to ultimately be a part of the board of administrators.

“Solely Soquimich may have earnings for 30 years as a result of it has 49.9% of the earnings it is going to generate.”r this venture. There are near 13 billion {dollars} that as a State we’re going to give to this firm. And simply as it’s immoral, we even consider that it’s even unlawful, it borders on illegality,” accused Cristián Tapia, member of the Mining Fee of the Decrease Home, who introduced that the PPD bench will go to the Comptroller Normal of the Republic in order that the legality of the settlement is reviewed.

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