{"id":1096062,"date":"2019-01-24T17:06:41","date_gmt":"2019-01-24T17:06:41","guid":{"rendered":"http:\/\/www.mining.com\/?p=965238"},"modified":"2019-01-24T17:06:41","modified_gmt":"2019-01-24T17:06:41","slug":"sqm-just-made-it-very-difficult-for-tianqi-to-access-company-secrets","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1096062","title":{"rendered":"SQM just made it very difficult for Tianqi to access company secrets"},"content":{"rendered":"

Chile\u2019s Chemical and Mining Society (SQM), the world\u2019s second largest producer of lithium, used in used in batteries that power electric cars and high tech devices, has taken measures to protect sensitive information<\/a> from China\u2019s Tianqi, which recently acquired almost a quarter of the company<\/a>.<\/p>\n

The deal, which took months to get approved by Chile\u2019s antitrust regulators, received the okay in October, but under certain conditions<\/a>. These included preventing Tianqi from naming any of its executives or employees to SQM’s board. The company was also told it would have to notify regulators of any future, lithium-related deal with either the Chilean producer or rival Albemarle.<\/p>\n

SQM had objected to the extrajudicial agreement on the grounds it did not go far enough to limit Tianqi’s access to corporate secrets.<\/p>\n

On Wednesday evening, SQM revealed its board had approved additional measures to protect corporate data considered confidential. All requests by a board member \u201cappointed by a shareholder who is also a competitor\u201d\u00a0must now be detected first to the company\u2019s chief executive,\u00a0and then shared with Chilean anti-trust regulators, it said.<\/p>\n

The company\u2019s CEO has the right to deny access to the information requested, but can only do so if ordered by the watchdog.<\/p>\n

SQM\u2019s board also plans to form a new, internal Lithium Committee to review documents circulated by the board of directors and related to lithium, including contracts and agreements.<\/p>\n

Chile, which holds about 52% of the world\u2019s known lithium reserves, lost last year its\u00a0top lithium producer crown to Australia<\/a>. But SQM, Albemarle and the government are working hard on reversing that.<\/p>\n

SQM recently finished the first stage of a lithium carbonate ramp-up in Chile\u2019s Salar del Carmen, reaching a capacity of 70k million tonnes a year. This year, it expects to increase it to 120k MT\/year.<\/p>\n

The firm actually believes it will soon overtake US-based competitor Albemarle as the world’s top lithium miner, by 2022 to be exact. SQM expects to boost its production capacity that year to 28% of the world’s total versus Albemarle’s 16%.<\/p>\n

Chile expects lithium to soon become its second largest mining asset, just behind copper. It’s currently\u00a0the country’s fourth biggest<\/a>\u00a0export.<\/p>\n

The post SQM just made it very difficult for Tianqi to access company secrets<\/a> appeared first on MINING.com<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

The lithium miner, the world’s second largest producer of the white metal, has approved additional measures to protect corporate data considered confidential from China’a Tianqi, which recently bought almost a quarter of the Chilean company.<\/p>\n

The post SQM just made it very difficult for Tianqi to access company secrets<\/a> appeared first on MINING.com<\/a>.<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"footnotes":""},"categories":[405,404,369,426,440,1197],"tags":[28,30,71,288],"_links":{"self":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1096062"}],"collection":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1096062"}],"version-history":[{"count":4,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1096062\/revisions"}],"predecessor-version":[{"id":1096151,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1096062\/revisions\/1096151"}],"wp:attachment":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1096062"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1096062"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1096062"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}