SQM - SQM to start Chile contract talks in coming weeks CEO says
2023-05-18 14:38:09 ET
SQM ( NYSE: SQM ) said Thursday it expects to begin negotiations in the coming weeks with Chilean state miner Codelco on new terms for a lithium mining contract .
Both sides will strive for an agreement that is positive for the country, the region and the two companies, SQM ( SQM ) CEO Ricardo Ramos said on the post-earnings conference, while declining to comment on time frames and the scope of negotiations.
SQM ( SQM ) said its Q1 lithium sales volumes slid 15% from the prior-year period, but Ramos said Q2 is "showing a more stable pattern" and is "positive about volumes for the second quarter and semester," citing a ramp up of activity in China.
The Chilean government unveiled a plan last month for stronger state control of the metal; SQM ( SQM ), whose contract expires in 2030, has said its technology and experience would allow it to reach mutually beneficial agreements.
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SQM to start Chile contract talks in coming weeks, CEO says