The president of the board of directors of Codelco, Máximo Pacheco, shared yesterday in the Senate Mining and Energy Commission details of the agreement reached with SQM for the exploitation of lithium in the Salar de Atacama. Pacheco explained that the first thing was to negotiate with Corfo the lease of the belongings in the salt flat starting in 2030, which gave way to the conversation with SQM, the current operator. He highlighted that the negotiation was open and transparent, with proposals and counterproposals, and highlighted the unanimity of the decisions of the Codelco board of directors. He also provided favorable figures for the agreement, including estimated revenues for the State of Chile.
Direct negotiation with SQM and greater income for the State
Pacheco defended direct negotiations with SQM due to the greater economic benefits that this implies for the State of Chile. He explained that income will increase, since the State will take 70% of the margin until 2030 and then 85% until 2060. Additional profits will also be achieved due to the greater associated production and the assets that SQM will transfer to Maricunga. In addition, this negotiation will allow Codelco to acquire productive experience in lithium. Pacheco mentioned that during the negotiation no other unsolicited offers were received, despite a clause in the Memorandum of Understanding with SQM.
Business decision and autonomy in the new society
When asked by the senators about the non-exclusion of the Ponce family from the board of directors of the joint company, Pacheco affirmed that the negotiation was strictly business. Regarding the decision that the directors of this company had not been directors in any of the parent companies for more than ten years, he explained that this represents the new independence and autonomy of the company.
Codelco and the joint development of lithium in the Salar de Atacama
The president of the board of directors of Codelco, Máximo Pacheco, detailed in the Senate Mining and Energy Commission Codelco’s agreement with SQM for the exploitation of lithium in the Salar de Atacama. He highlighted that the first thing was to negotiate with Corfo the lease of the belongings in the salt flat, which allowed the conversation to begin with SQM. Pacheco described the negotiation as open and transparent, with proposals and counterproposals, and highlighted the unanimity in the decisions of the Codelco board of directors. He also provided favorable figures for the agreement, including estimated revenues for the State of Chile.
Codelco’s direct negotiation with SQM generates greater economic benefits
The president of the board of directors of Codelco, Máximo Pacheco, defended Codelco’s direct negotiation with SQM due to the greater economic benefits that this implies for the State of Chile. Pacheco highlighted that the State’s income will increase, since it will take a greater percentage of the margin. In addition, he mentioned that the negotiation will allow Codelco to acquire productive experience in lithium. He also highlighted that during the negotiation no unsolicited offers were received, despite a clause in the Memorandum of Understanding with SQM.
Business decision and autonomy in the new company of Codelco and SQM
When asked by the senators about the non-exclusion of the Ponce family from the board of directors of the joint company, Pacheco assured that the negotiation was strictly business. He explained that the decision that the company’s directors have not been directors in any of the parent companies for more than ten years represents the independence and autonomy of the company.
