Codelco-SQM lithium deal can proceed without shareholder approval, regulator says

Chile's financial regulator said on Tuesday that a planned lithium joint venture between State-run Codelco and miner SQM does not need to face a vote by SQM shareholders as argued by China's Tianqi Lithium, which owns a fifth of SQM.

The deal would give the state a key role in producing lithium while letting SQM boost output of the battery metal. Chile is the world's second-largest producer of lithium.