The approval adds to those already delivered by the free competition authorities of Brazil, South Korea, Japan, Saudi Arabia and the European Union. “We are very satisfied with this resolution, because it confirms that the association advances as planned,” said Máximo Pacheco, president of the Codelco board.
The association agreement between Codelco and SQM continues to progress firmly towards its implementation. The National Economic Prosecutor’s Office (FNE) today approved this alliance, which seeks the creation of a joint business for the exploitation of lithium in the Salar de Atacama.
The parties presented the notification to the FNE at the end of July 2024 and, in September, the agency initiated the background review period. With today’s decision, the FNE has approved the implementation of the association subject to certain information and operational management protocols, which is standard in the field of concentration operations control.
“This is an important milestone. The Prosecutor’s Office has studied this operation for nine months, with all the rigor that corresponds and analyzing in depth all the documentation we have contributed. We are very satisfied with this resolution, because it confirms that the association advances as planned and that the necessary conditions for its execution are being systematically met,” said Máximo Pacheco, president of the Codelco board.
With this new step, the approval of the FNE joins those already issued by the free competition agencies of Brazil, South Korea, Japan, Saudi Arabia and the European Union. In this way, most international regulatory authorizations have been met, subtracting only the pronouncement of China
These approvals are part of the previous conditions that were defined in May 2024 with the signing of the final agreements and that must be fulfilled so that both companies materialize the association with the fusion of their Minera Tarar and SQM Salar subsidiaries.
In parallel, other key processes continue to advance, such as the indigenous consultation led by Corfo and the authorizations of the Chilean Nuclear Energy Commission (Cchen). The Corporation continues to work so that the agreement can be completed during the second half of this year, and thus mark a strategic step for the sustainable development of lithium in Chile.
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