Chile: Court rejects motion to stop SQM-Tianqi sale

The Constitutional Court (TC) of Chile dismissed on Thursday a motion that sought to stop the China’s Tianqi from acquiring control over lithium producer SQM, which would clear the way for the operation to wrap up by the end of the year.

SQM’s controlling companies -Pampa Calichera, Potasios de Chile and Global Mining- had filed an appeal with the TC regarding the competitive risks involved in the arrival of their rival Tianqi to the mining company.

“The second chamber resolved to declare the request inadmissible and to lift the suspension of the previously decreed procedure,” said a court document.

“At least the obstacle of constitutional nature has been lifted, has disappeared and therefore the transaction returns to the channel that the lawyers had been planning,” added Tianqi’s attorney, Artuto Fermandois.

Full Content: América Economía