Chile's Codelco, SQM kick off lithium tie-up with board meeting
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Codelco and SQM have officially launched their lithium joint venture, NovaAndino Litio, with a board meeting. Established following a May 2024 agreement, the venture allows the Chilean government to increase its control over SQM's operations in the Atacama salt flat. The government will receive up to 70% of the operating margin from new production between 2025 and 2030, rising to 85% from 2031. The board will be chaired by Maximo Pacheco, with Carlos Díaz as CEO and Eduardo Foix as CFO.
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