Codelco and SQM joint venture NovaAndino Litio approved by Chilean regulators, securing world's second-largest lithium operation through 2060

NovaAndino Litio/Salar de Atacama Lithium Operation

Chilean regulators approved the NovaAndino Litio public-private joint venture between state-owned Codelco (50.1%) and SQM (49.9%), consolidating control of the Salar de Atacama and securing lithium production through 2060. The approval resolves uncertainty over what would happen when SQM's original mining licence expired in 2030, and positions the state to benefit from lithium's rising strategic importance.