Chile: After meeting with China, Minister assures Chile is Open for Business

Chile’s Minister of the Economy, José Ramón Valente, expressed his position regarding the possible investment of Chinese capital – specifically by the Tianqui mining company – in the purchase of 32% of the SQM mining company, after alarms were sounded a couple of weeks ago at the National Economic Prosecutor over possible anticompetitive effects due to Tianqui’s strong position in the global lithium market.

“Chile is an open country and any company that comes to Chile and complies with Chilean legislation will be welcome,” Valente said during a meeting with the Confederation of Production and Commerce (CPC).

Eduardo Bitran, former executive vice president of mining outfit Corfo, denounced the possible agreement with the FNE days before leaving his position, citing concerns that Tianqui – part of the mining group that includes Talison in Australia – already has an important presence in the Salar de Atacama, where SQM operates.

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