Chile left out in the cold by Chinese lithium investors?

Finding itself increasingly impatient regulator’s lethargy and hostility, Chinese miner Tianqi are taking their proposed $4bn investment in Sociedad Quimica y Minera de Chile off the table. The deal would have netted them 32% of the company (a jointly 70% of the global lithium market), something the previous administration deemed unacceptable and declared it would block. The new administration, though ostensibly more friendly to business, now finds itself struggling to reassure investors that Chile is still the place to invest in lithium.

Meanwhile, Tianqi and other lithium interests are turning to Argentina. A less mature market, but sat on significant reserves of delicious brine and now a comparatively more attractive place to do business.

Chile’s government is in an unenviable position: surrender a significant portion of control over the global production of lithium to China, or hand away advantage to regional rivals. The longer it dithers, the worse the bargain will become.

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