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Chemical and Mining Society (New York Stock Exchange: SQM) said Wednesday that he agreed call an extraordinary meeting of shareholders at the request of Tianqi Lithium, its second largest shareholder, which is seeking greater clarity on a proposed agreement with Chilean state-owned copper giant Codelco.
He At the meeting scheduled for April 24 – the second such meeting in as many months – Tianqi will push for a vote on any agreement with Codelco.
While SQM (SQM) said it will provide an update on the negotiations and answer questions, the company reiterated that the deal only requires board approval.
At stake is a deal that would allow SQM (SQM) to increase lithium production; If scrapped, the capital may have to shut down mining operations when its current contract expires in 2030.
China's Tianqi, which has faced restrictions on SQM's (SQM) most sensitive information since it bought its stake in 2018, says it has not received enough information about the deal.
