Chilean legislators reject lithium expropriation

Chilean legislators have rejected a bill allowing the expropriation of private companies involved in lithium mining in the country, which would have left the door open for the state to take over firms such as Albemarle and SQM, the world’s No. 1 and second largest producers of the battery metal.

The special committee of the lower house said the bill was unconstitutional, but tied when it came to vote in favour of naming lithium a resource of national interest. The metal, a key ingredient in the batteries that power electric vehicles (EVS) already has a special status, as it is considered to be property of the state.

“Declaring the Special Contracts of Lithium Operation (CEOL) deals of national interest is what was declared unconstitutional,” the minister of mining, Baldo Prokurica, told

“The only special lithium operation contract Corfo has is one with Codelco. Sometimes it is confused with the contracts that Corfo has with SQM or Albemarle, which are lease contracts,” he noted.

Click here to continue reading...

Subscribe to the RSD email list and get the latest resource stock activity directly to your inbox, for free.

Part of the Stock Digest family of websites

Small Cap Stock Digest



Name Last Change
DOW 27147.10 0.13%
S&P 500 3006.73 0.03%
NASDAQ 8177.39 0.11%
TSX 16800.29 0.21%
TSX-V 584.91 0.00%

Resource Commodities

Name Last Change
Gold 1494.90 0.26%
Silver 17.69 0.17%
Copper 2.60 2.596
Platinum 901.00 0.67%
Oil 58.11 2.12%
Natural Gas 2.64 1.18%
Uranium 25.53 0.59%