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UPDATE 1-Chile's Corfo, SQM strike deal in lithium dispute [Reuters]

ALBEMARLE (ALB)  More Company Research Source: Reuters
Last albemarle earnings: 5/9 04:15 pm Check Earnings Report
US:NYSE Investor Relations: investors.albemarle.com
PDF UPDATE 1-Chile's Corfo, SQM strike deal in lithium dispute | Reuters Reuters Staff 3 Min Read (Adds details of deal, comment by Corfo director, background on dispute) By Felipe Iturrieta SANTIAGO, Jan 17 (Reuters) - Chilean development agency Corfo said on Wednesday that it had struck a deal with lithium company SQM , ending a long dispute over royalties in Chile’s Salar de Atacama, home to one of the world’s richest lithium deposits. The deal frees the miner to apply for an increase in its production quota amid a demand boom and surging prices for lithium, which is used in the batteries that power electric cars. Corfo chief Eduardo Bitran said SQM had agreed to overhaul its corporate governance board to ensure adherence to global standards, a key condition put forward by Chilean authorities. The deal also hikes the royalties paid by SQM to equal those established in a similar contract between Chile and SQM competitor and lithium producer Albemarle. SQM, like the U.S.-based Albemarle, [Read more]

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