The assistant nurse warns of the risks of control of the SQM board by Tianqi

Francisco Eguiguren, National Renewal MP and member of the inquiry commission for the agreement between Corfo and SQM on lithium mining in the Atacama Salar, warned against risk that the Chinese company Tianqi comes to control directory of the main non-metallic mining company in Chile, SQM.

After learning that the Constitutional Court (TC) had not accepted the request of the Pampa group, controller of the SQM, had asked to challenge the agreement reached between the National Prosecutor for Economic Affairs and Tianqi for the sale of 24% of type A shares, and was also approved by the court of free competition.

Although the Coquimbo region parliamentarian described as a "much awaited news" the resolution of the technical committee, which will allow the negotiation to follow its course through institutional channels, said that this agreement "does not include the is not good news "for Chile. "

According to the legislator, it is" a precarious contract, imprecise, which seriously undermines our interests and the market, while leaving us a very bitter taste, because l '39, Lithium's importance and future projections require serious, deep work and truly capable of protecting the interests of our country and future generations. "

MP Eguiguren insisted that" with regard to the implications on the lithium market, in general, everything is aimed at that. There will be large concentrations and the consequences on the competition will be terrible. In fact, according to Bloomberg figures, the lithium industry is concentrated in four main players: Albemarle which controls 18% of the industry, the second Jiangxi Ganfeng with 17% of the industry, SQM which controls 14% and Tianqi with 12%. "

In this regard, he recalled that the Jiangxi and Albemarle companies are partners in Australia." But also, Jiangxi is from China and it is this country that is behind all that. We open our eyes, it is China that is attacking the world market and buying what we can, because it is the great power of the future that will have the whole world at its feet. This is what China wants and the truth is that we can not ignore it, "he said.

" If Tianqi controlled the Soquimich board of directors, he would control more than a quarter of global lithium market. In this sense, there will be global consumer effects on lithium products such as mobile phones, medicines, electric cars, batteries, "he added.