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After a series of talks, Corfo and Albemarle reached an agreement on the mechanism for calculating the preferential price to be offered to specialized producers moving to Chile.
With this, rejects the presentation of an arbitration complaint by the state body on this issue, as suggested last October, when the talks were neutral and that it seemed impossible to get out.
Under this scenario, Corfo had then announced its intention to seek arbitration at the International Chamber of Commerce after the failure of negotiations on the definition of the preferential price – as established in the contract between the two – 25% of lithium production that exploits the American Albemarle in the north of our country. But said the option had been definitely diluted on Thursday thanks to the advanced negotiations in recent weeks .
"It is excellent news that in this new series of meetings, we reach an agreement that respects the agreement between the two parties. Progress in resolving this controversy will allow the country to in place a value-added industry which forms the heart of the contract signed in 2016, "said María Elina Cruz, attorney for Corfo.
"We are pleased to announce this agreement which will allow us to continue to contribute to Chile as a strategic partner in the development of the lithium industry." We reiterate our commitment to dialogue and sustainability and we are confident that our contributions to research and development will be used by Corfo for initiatives that will directly benefit the country " said Ellen Lenny-Pessagno, Country. Director of Albemarle Chile.
In particular, the agreement aims to establish a value-added industry in Chile, which already has three specialized producers selected by means of a lithium call (the Chilean Molymet the Korean consortium composed of Samsung and Posco and the company China Suchuam Fulin Industrial ), created in April 2017 and awarded on 9 March 2018.
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