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Chile’s lower house of Congress approved a resolution asking President Gabriel Boric to annul an agreement between state copper company Codelco and Chilean miner SQM that would give Codelco a prominent role in the lithium industry.
The partnership between Codelco and SQM is a major component of Boric’s plan to boost the state role in Chile’s production of lithium, a metal used in electric vehicle batteries.The government-mandated deal would extend SQM’s contract to extract lithium in the prized Atacama salt flat through 2060, while giving Codelco a more than 50% stake in the project.
The resolution signed by lawmakers calls for canceling the deal so that the process can “be done through a national and international public tender and not in a direct deal.”
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