china's tianqi says stake in chile lithium miner sqm good for both firms - lithium batteries for sale
Santiago (Reuters)-
The chief executive of China's Tianqi Lithium company said she believes that SQM, a lithium miner who invests in Chile, will bring "a long term
Both companies are "long term interests", although local anti-corruption elements set strict conditions for their participation
Trust Regulatory Authority
Mr. Wu told the Chilean newspaper La Tercera on Sunday that apocalypse was considering other potential investments in Chile as part of its goal of "consolidating" its position in the new energy market.
Tianqi bought a 23 last week.
Canadian fertilizer company Nutrien accounted for 77% of the shares for $4. 1 billion.
As Chinese companies increasingly look globally for raw materials to increase the production of Chinese electric vehicles, the batteries of electric vehicles need lithium.
The company's deal was censored by regulators, competitors and consumer groups, fearing it would bring nearly a monopoly on the global lithium market.
A Chilean antitrust court finally approved the deal, offering conditions to restrict Apocalypse's access to SQM trade secrets for the sale of apocalypse.
China's constitutional court rejected further objections from former chairman Julio ponse Lalu, who controls the SQM's major shareholder, the Papa group.
Tian Qi was surprised by the intervention of the Papa group, but now he is a shareholder and wants to build a bridge, Wu said.
"We were surprised to encounter such fierce opposition, even before we officially announced the investment," she told La Tercera . ".
Wu said she did not know if there would be further clashes with the Papa group.
"From our perspective, our plans include supporting existing management teams and their efforts to grow their business," she said . ".
"We are confident that once we understand the Pampa Group and The SQM government, our interests and objectives will be aligned.
"Given how we view the possible growth in the electric vehicle industry, we believe that this investment will bring huge long-term economic benefits to the company.
Wu, along with Jiang Weiping, president of Tian Qi, said she would travel to Chile in early 2019 to meet with government officials, SQM executives and delegates from the Papa group.
The company has started interviewing candidates for "in Chile and abroad" in order to get three seats on the SQM board in April.
According to and against-
Chinese miners cannot name any executives or employees.
Pam PA Group and SQM could not be reached for comment.