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SQM wins National and International Public Tender for Lithium Contractqrcode

Sep. 27, 2012

Favorites Print Sep. 27, 2012
Sociedad Química y Minera de Chile S.A. (SQM) has been qualified as the winner of the National and International Public Tender for the  subscription of a Special Operating Contract for the Exploration, Exploitation, and  Processing of Lithium Deposits (CEOL) in Chile. 
SQM offered the sum of $19,301 million Chilean pesos (equivalent to approximately $40.9  million USA Dollars) for the rights to exploit a total quantity of 100,000 tons of Li  (Approximately 532,000 tons of Lithium Carbonate Equivalent) for a maximum period of  20 years from the date of executing the contract. 
These rights are subject to conditions that are specified in the tender bases which indicate,  among other aspects, that they cannot be used in those zones covered by mining  concessions constituted in compliance with the Mining Code of 1932, among which are the  mining claims that SQM currently leases from CORFO in the Salar de Atacama. 
SQM expects to announce the exploitation project(s) associated with the CEOL during the  next 12 months, a period in which the studies and assessments of the various productive  alternatives will be continued.  
SQM is one of the world’s main participants in the lithium industry, with market presence  for over 15 years, investing in the development of this sector with production, research, and  technology. The Company has the experience, the know-how, the technology, the financial  resources, and, above all, the persons qualified to successfully continue the long term  development of this industry. 
The lithium market is a competitive worldwide market with currently approximately 20  producers and more than 100 projects under study. The dynamic of the market is related to  the assurance of the supply, production quality, productive efficiency, client knowledge,  and capacity of adaptation to their requirements. SQM has the necessary attributes to  maintain leadership in the development of this industry over the long term. 

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Source: SQM


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