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Chile's government is expected to receive 85% of associated benefits including taxes and lease payments from a planned partnership between state-run copper miner Codelco and lithium company SQM... -April 23, 2024 at 09:07 pm EDT - MarketScreener
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Meanwhile, the copper giant is still struggling with operational issues and a drop in grade ores, that led to its lowest production in nearly a quarter century in 2022. Codelco has also been tasked with leading that government's effort to take control of the lithium industry. Additionally, the company's CEO Andre Sougarret announced that he was resigning from the company in June, citing "complexities" in running it. Codelco expects production to start recovering next year, the chairman added.
SANTIAGO (Reuters) - Chilean state miner Codelco, the world's largest copper producer, said on Friday it had created two subsidiaries to run a newly mandated lithium business amid a government plan to increase state control over the industry. | 02:14pm
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Chilean state miner Codelco, the world's largest copper producer, said on Friday it had created two subsidiaries to run a newly mandated lithium business amid a government plan to increase state control over the industry.