SQM Anticipates May 31 Lithium Joint Venture Deadline with Codelco

Chilean mining giant SQM is nearing a deal for a lithium joint venture with state-owned Codelco, targeting a final agreement by May 31. CFO Gerardo Illanes stated the transaction is complex but moving forward without significant issues.

Chilean mining company SQM, the world's second-largest lithium producer, expects to finalize a contract for a lithium joint venture with state-run miner Codelco by a deadline for May 31, SQM's Chief Financial Officer Gerardo Illanes said on Thursday.

"There's no particular sticking point, it's just that it is a complicated transaction," Illanes said in a call with analysts to discuss first-quarter results, when asked if there were obstacles in the negotiation.