Chile is an obvious place for Tesla's chief executive, Elon Musk, to look for secure supply, as the global lithium mother-lode is in the brine lakes of the country's Atacama desert.
Chile's economy is poised to improve by mid-year as rebounding copper prices and President-elect Sebastian Pinera's promise of business-friendly policies increase optimism among investors.
Rio’s renewed interest in SQM is welcome by the Chilean government, which had expressed concerns about a potential and dangerous concentration in the market should major lithium producers, such as China’s Tianqi, acquire the 32% interest in SQM.
BHP's Escondida on Wednesday cast doubt on chances of starting talks on a new labor agreement with the company before formal negotiations scheduled for June.
They also claim miner offloaded the asset to avoid paying for environmental damage caused by an accident at its floating dock, which killed six people and dragged vehicles, equipment and large amounts of iron ore into the Amazon River.