Codelco, SQM launch NovaAndino Litio JV in Salar de Atacama

Core Insights - Codelco and SQM have established the NovaAndino Litio joint venture to manage lithium activities in Salar de Atacama, Chile, with operations planned until 2060 [1][2] - The joint venture integrates all necessary assets and expertise to enhance the lithium business, following SQM's internal restructuring [2] - The partnership reflects a new model of public-private collaboration, emphasizing transparency and professionalism [3] Group 1 - The NovaAndino Litio joint venture was formed by merging Codelco's Minera Tarar and SQM's SQM Salar [1] - The joint venture will consolidate all assets, subsidiaries, and technical expertise required for lithium production [2] - The agreement ensures continuity in operations under existing and future contracts related to the Atacama Salt Flat [2] Group 2 - Codelco's chairman highlighted the strategic importance of lithium for global energy transitions and expressed pride in the partnership with SQM [3] - The merger is the result of a partnership agreement reviewed by over 20 organizations and institutions [3] - The joint venture's board will consist of three representatives from each company, ensuring balanced governance [4] Group 3 - SQM has transferred all mining concessions in the Maricunga Salt Flat to Codelco, reinforcing the Chilean State's position in lithium development [4][5]