Chile Won't Block Sale of Stake in SQM to Foreign Investors

Chilean mining minister Aurora Williams has said the country would not block a foreign takeover of SQM (NYSE:SQM), one of the world’s most significant lithium and potash producers, Reuters reported. Indirect shareholder Oro Blanco is offering up its entire 88 percent holding in Pampa Calichera, which owns roughly 20 percent of SQM.
As quoted in the publication:

“Those are decisions to be made specifically by the company,” Williams said in an interview through an interpreter in Toronto during the annual Prospectors & Developers Association of Canada (PDAC) convention.
“In no way would we indicate to them or give our intentions as to how the company should be structured.”
The sale process comes after Julio Ponce, a former son-in-law of late dictator Augusto Pinochet, was forced to resign as SQM chairman last year after two separate scandals.

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