SQM Confirms Challenge to Albemarle Lithium Expansion

Chile’s SQM (NYSE:SQM) has confirmed plans to challenge Albemarle’s (NYSE:ALB) expansion of capacity in Chile, Reuters reported. Diario Financiero reported (in Spanish) on April 20 that SQM (NYSE:SQM) would seek to have Albemarle’s recently granted expansion permits invalidated.
As quoted in the publication:

“Yes, that is so,” a SQM spokeswoman said in an email to Reuters when asked whether the company, the world’s biggest producer of lithium, had formally requested that officials block the project, which is located in Chile’s Atacama desert.
While underscoring that SQM did not oppose Rockwood’s project in principle, the spokeswoman said “we must adequately consider the effects of Rockwood’s project on our environmental commitments.”

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