Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
China’s Tianqi Lithium said on Wednesday that Chilean authorities’ rejection of a request for a vote on a planned lithium joint venture between state-run Codelco and miner SQM is not expected to have a major impact on its 2024 financial results.
Tianqi owns a fifth of SQM and is the miner’s second-largest shareholder.
Chile’s financial regulator said the Codelco-SQM joint venture does not need to face a vote by SQM shareholders. The deal would give the state a key role in producing lithium, while letting SQM boost output of the battery metal.
Chile is the world’s second-largest producer of lithium.
(By Ethan Wang, Siyi Liu and Ryan Woo; Editing by Peter Graff)
Read More: Codelco-SQM lithium deal can proceed without shareholder approval, regulator says
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