SQM's backing of the Cauchari Olaroz project marks the first explicit supporting of a junior by a senior market player in the lithium business and SQM's first move into lithium production beyond the Chilean border. Its stamp of approval will be welcomed by Lithium Americas, as juniors jostle to prove the viability of their projects amid a crowded field.
Patricio de Solminihac, SQM CEO, said that as Cauchari Olaroz is is located "just a few hundred kilometres" from its operation at the Salar de Atacama in Chile, adding that he expects to have "similar production processes at both sites" and "benefit from operating synergies".
Tom Hodgson, Lithium Americas CEO, meanwhile cited SQM's "decades of development and operating experience", "strong team of technical and commercial talent" and "track record of success as a partner in many global joint ventures" as motivating factors in the agreement.
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