Story perspectives

Historic Codelco and SQM Partnership Targets Chile's Lithium Boom

12/28/2025

Summary

Story summary

Codelco (Chile's state-owned copper company) and SQM (private miner) announced the formation of Nova Andino Litio SpA to develop lithium at the Atacama salt flat, a deal described by Codelco as one of the most significant in Chilean business history.
Nova Andino Litio SpA will conduct exploration, extraction, production, and commercialization activities until 2060.
The partnership received regulatory approval in December.
Chile holds about 40% of the world's lithium reserves.

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Story summary

Codelco (Chile's state-owned copper company) and SQM (private miner) announced the formation of Nova Andino Litio SpA to develop lithium at the Atacama salt flat, a deal described by Codelco as one of the most significant in Chilean business history.
Nova Andino Litio SpA will conduct exploration, extraction, production, and commercialization activities until 2060.
The partnership received regulatory approval in December.
Chile holds about 40% of the world's lithium reserves.