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Stock impact report

China approves key joint venture for lithium production in Chile [Yahoo! Finance]

Sociedad Quimica y Minera S.A. (SQM) 
Last sociedad quimica y minera s.a. earnings: 3/2 09:13 pm Check Earnings Report
US:NYSE Investor Relations: ir.sqm.com
Company Research Source: Yahoo! Finance
File Photo by Ariel Marinkovic/EPA Nov. 12 (UPI) -- China's antitrust regulator, the State Administration for Market Regulation, granted final approval to conditions for a joint venture between Chilean companies Codelco and SQM to produce lithium in the Salar de Atacama (the Atacama Salt Flat) in northern Chile. This was the last pending international approval and clears the way to implement the agreement, which will allow the Chilean state to take part in producing the strategic mineral, El Mercurio reported. The decision followed consultations with government agencies, competitors and consumers. The regulator found that the level of market concentration expected from the joint venture could harm competition in China, and therefore approved the deal with conditions intended to protect supply for Chinese industry. In the event of any significant change in supply, Codelco and SQM must continue delivering lithium carbonate to Chinese customers on time and on fair nondiscrimina Show less Read more
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