SQM-Codelco Deal Cleared to Proceed Without Shareholder Vote

(Bloomberg) — Chile’s securities regulator ruled that a landmark deal to share ownership of one of the world’s biggest lithium operations can proceed without seeking approval from shareholders.

The decision is a boost to the planned partnership between SQM and state-owned Codelco, while delivering a blow to Tianqi Lithium Corp., the Chinese firm that owns a 22% stake in SQM and had requested a shareholder vote.