Recently, the world's second largest lithium producer SQM issued a statement stating that after months of negotiations, the company has reached a framework agreement with the Chilean state-owned company, Codelco. SQM will transfer the majority of its ownership of the Atacama salt flat assets in Chile to Codelco in exchange for extending its operations for another 30 years until 2060.
This agreement will establish a new public-private partnership and continue to advance production and investment in the salt flat. It is also a key step taken by the Chilean government in opening up a new model for the lithium mining industry in the process of energy transition.

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