“Investors seem keen to know Rinehart’s plan,” Seth Goldstein, an equity strategist at Morningstar, said.

The exit marks at least the third shake-up of Sigma's senior management in 2023.

Alejandro Rivera has been closely involved with Codelco's lithium strategy for years.

The spread offers traders an opportunity to make money, but also highlights just how bearish the outlook is in the top EV producer.

The Minerals Security Partnership (MSP) formed last year by 14 governments aims to ensure adequate supplies of minerals such as lithium and rare earths to meet zero-carbon goals.

Brian Talbot left the company at the end of last month, he told Reuters on Thursday, sending shares of the Vancouver-based miner tumbling.

While Chile’s trade with China surpassed $65 billion last year, most of its exports are dominated by copper and much of it is shipped in the form of concentrates

Ganfeng Lithium and Tianqi Lithium have plunged 51% and 32% respectively since January.