Photo: Ministerio de Porkurica. By: Ministerio de Minas. Source:
The Chinese company Tianqi Lithium has released a statement anticipating significant transformations in the lithium industry in Chile. This forecast implies a shift from a market previously dominated by SQM and Albemarle to a more diversified environment with the entry of new global competitors. Tianqi, which holds a 22.16% equity stake in SQM, highlights the growth of new players in the lithium industry in Chile and expects this trend to continue in the coming years.
Chile, which holds approximately 48.2% of the world's lithium reserves, has placed special emphasis on this industry as part of the country's Fiscal Pact for the Development and Well-being, in order to stimulatie investment, growth, and productivity. Tianqi's statement highlights the emergence of new participants, both from the private and state sectors, which has contributed to deconcentrating the market and introducing technological innovations in the lithium value chain.
This announcement by Tianqi coincides with discussions about the possibility of lifting the restrictions imposed on the Chinese company's participation in SQM. Despite the regulatory challenges that persist, Tianqi seems to be exploring a greater role in the Chilean lithium industry, considering future changes in ownership of lithium mining concessions and the proposal of the National Lithium Strategy by the Chilean government. Competition and cooperation appear to be key factors in the future of this industry in Chile.
Top headline:
América Economía .(2023, agosto 29).China Tianqi busca tener más participación en litio chileno.
Find out more:
Dialogó Américas (2023, julio 29). China tras el nuevo tesoro de Sudamérica.
