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The Court of Defense of Free Competition (TDLC) confirmed Tuesday that it authorized the purchase of 24% of the shares of the Lithuanian SQM by the Chinese mining company Tianqi when he declared "inappropriate" an appeal filed to terminate the operation.
In early October, the TDLC decided to approve the extrajudicial agreement signed by the National Economic Prosecutor and the Tianqi Lithium Corporation, which had been concluded at the end of an investigation l & # 39; 39, purchase would not cause prejudice to free competition.
"It is resolved: to reject the reconstructions presented", by the controller of the Pampa group, when he considers them "inadmissible", recalls the decision made by the TDLC.
The Constitutional Court of Chile also rejected Pampa's appeal to stop the transaction involving several of the world's largest lithium operators.
Last May. Tianqi, one of the world's leading lithium suppliers, bought 24% of the SQM in Nutriem, Canada, for 4.066 billion dollars. An operation that, after having overcome several judicial instances, would be completed before the end of the year
The Pampa Group – composed of Pampa Calichera, Potasios de Chile and Global Mining – argued in the agreement that the operation did not favor free trade. competition considering that Tianqi is an Australian partner of the American Albemarle, which competes with SQM for lithium mining in the Salar de Atacama, in northern Chile.
The operation dispelled the country's fears prior to the accumulation of lithium in the hands of a few producers.
The so-called "new white gold" is experiencing a sharp increase in demand, thanks to the increase in sales of electric cars and the development of batteries for technological items containing mainly metal.
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