China's top market regulator grants conditional approval to Codelco-SQM lithium joint venture

Published: Nov 11, 2025 03:10

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China’s State Administration for Market Regulation (SAMR) has announced its conditional approval for the establishment of a joint venture between Chile’s National Copper Corporation (Codelco) and Sociedad Química y Minera de Chile (SQM) to jointly manage the Salar de Atacama lithium mining project in Chile. The decision aims to ensure a stable and fair supply of imported lithium carbonate to the Chinese market and to prevent supply discrimination or price fluctuations. Under the approval conditions, Codelco, SQM, and their joint venture are required to continue fulfilling existing contracts and to provide lithium carbonate on a fair, reasonable, and non-discriminatory basis, while promptly reporting any major changes in supply. According to the regulator, these restrictive conditions will help stabilize lithium carbonate supply and prices, thereby safeguarding the interests of China’s downstream battery and new energy vehicle industries. The SAMR emphasized that the conditional approval seeks to foster a fair competition environment and promote the healthy and orderly development of China’s new energy sector.

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