Mei Ri Jing Ji Xin Wen·2025-11-13 04:37Core Viewpoint - The ongoing legal dispute between Tianqi Lithium and SQM regarding the public-private partnership agreement with Codelco has raised concerns about shareholder rights and governance in Chile's mining sector [2][3][5]. Group 1: Legal Developments - Tianqi Lithium's lawsuit against SQM was dismissed by a Chilean court, which has prompted Tianqi to consider further legal actions, including an appeal [2][3]. - The court's ruling is not final, allowing Tianqi to reassess its options within legal limits to protect shareholder interests [3]. Group 2: Shareholder Rights Concerns - Tianqi Lithium argues that SQM's partnership with Codelco was executed without proper shareholder approval, infringing on the voting rights of minority shareholders [3][5]. - The company claims that the court's decision sets a harmful precedent by allowing technicalities to undermine minority shareholder rights, which could deter international investment in Chile [6][8]. Group 3: SQM's Operations and Agreements - SQM operates the Atacama Salt Flat, which is the highest lithium-producing salt flat globally, holding approximately 10.8 million tons of lithium resources, accounting for 44% of global supply [3][4]. - The partnership agreement with Codelco is seen as a strategic move to enhance SQM's operational longevity, extending lithium extraction rights until 2060 [7][9]. Group 4: Regulatory Context - The partnership agreement is subject to conditions that include commitments to fair supply practices and timely reporting of significant supply changes, which are crucial for maintaining market stability [10].