. 24/7 Space News .
Shareholders in Chile miner file suit over sale to China's Tianqi
by Staff Writers
Santiago (AFP) Oct 12, 2018

The controlling shareholder in Chile's lithium producer SQM has mounted a Constitutional Court challenge to halt regulators' decision greenlighting the sale of 24 percent of the company to Chinese group Tianqi.

Pampa Calichera, Potasios de Chile and Global Mining -- collectively known as the Pampa Group which holds 29.12 percent of SQM -- said in the suit filed Wednesday the decision by Chilean regulators to allow the deal breaks competition rules.

It wants Chile's antitrust regulators to rescind the decision "because it allows a market player to partially hold and participate in the management of one of its direct competitors."

It would also allow a direct competitor "access to confidential and economically sensitive information on the global lithium market."

Regulators last week gave the go ahead for the $4.1 billion sale in May of Canadian Nutrien group's 24-percent SQM stake to Tianqi.

The authority had launched an investigation in June into whether the deal broke competition rules. The Chinese company also has interests in Albermarle, the world's largest lithium producer and a direct competitor of SQM.

The deal would potentially give Tianqi influence over some 70 percent of the global lithium market, according to some estimates, via its interest in Albermarle and SQM.

Tianqi said in a statement that the "decision by the Constitutional Court is merely a formality.

"What comes next is the discussion regarding the admissibility of the lawsuit, and we will provide the court with solid legal arguments so it can be thrown out of court. We're very confident that will be the case."

SQM operates one of the world's largest lithium mines on the Atacama salt flats in northern Chile. Lithium is used in batteries, and is in high demand given the boom in the production of electric cars.

Chile has the world's largest reserves of lithium, and with Australia produces around 80 percent of total global production.

Related Links
Space Technology News - Applications and Research

Thanks for being there;
We need your help. The SpaceDaily news network continues to grow but revenues have never been harder to maintain.

With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords.

Our news coverage takes time and effort to publish 365 days a year.

If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.
SpaceDaily Monthly Supporter
$5+ Billed Monthly

paypal only
SpaceDaily Contributor
$5 Billed Once

credit card or paypal

Aluminum on the way to titanium strength
Moscow, Russia (SPX) Oct 11, 2018
NUST MISIS scientists have proposed a technology that can double the strength of composites obtained by 3D printing from aluminum powder, and advance the characteristics of these products to the quality of titanium alloys: titanium's strength is about six times higher than that of aluminum, but the density of titanium is 1.7 times higher. The developed modifiers for 3D printing can be used in products for the aerospace industry. The developed modifying-precursors, based on nitrides and alumi ... read more

Comment using your Disqus, Facebook, Google or Twitter login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle

NASA, UAE Space Agency sign arrangement for cooperation in human spaceflight

UN is only option in multilateral discussion of outer space

Crew of Soyuz MS-10 lands in Kazakhstan after launch failure

Branson says Virgin Galactic to launch space flight 'within weeks'

United Launch Alliance building rocket of the future with industry-leading strategic partnerships

Pentagon awards over $1Bln for development of new rocket launch systems

Crew of Soyuz rocket survive emergency landing after engine problem

Aerojet Rocketdyne Successfully Tests Hypersonic DMRJ Engine

Painting cars for Mars

Novel Technique Quickly Maps Young Ice Deposits and Formations on Mars

Curiosity rover operating on backup computer during repairs to main processor

Curiosity Rover to Temporarily Switch 'Brains'

China launches Centispace-1-s1 satellite

China tests propulsion system of space station's lab capsules

China unveils Chang'e-4 rover to explore Moon's far side

China's SatCom launch marketing not limited to business interest

Source reveals timing of OneWeb satellites' debut launch on Soyuz

French Space Agency opens new office in the UAE

Maxar's SSL Continues Positive Momentum in Growing US Government Pipeline

Space techpreneur to set up over $100m venture unit

Shareholders in Chile miner file suit over sale to China's Tianqi

Blue phosphorus mapped and measured for the first time

High entropy alloys hold the key to studying dislocation avalanches in metals

Light melts matter differently than heat, study shows

Life-long space buff and Western graduate student discovers exoplanet

How the seeds of planets take shape

NASA should expand search for life in the universe: NAS Report

The stuff that planets are made of

Icy warning for space missions to Jupiter's moon

New Horizons sets up for New Year's flyby of Ultima Thule

Hunt for Planet X reveals the Goblin, a faraway dwarf planet

While seeking Planet X, astronomers find a distant solar system object

The content herein, unless otherwise known to be public domain, are Copyright 1995-2024 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. General Data Protection Regulation (GDPR) Statement Our advertisers use various cookies and the like to deliver the best ad banner available at one time. All network advertising suppliers have GDPR policies (Legitimate Interest) that conform with EU regulations for data collection. By using our websites you consent to cookie based advertising. If you do not agree with this then you must stop using the websites from May 25, 2018. Privacy Statement. Additional information can be found here at About Us.