Codelco chairman says SQM lithium deal set to give 85% of benefits to state

Chile's government is expected to receive 85% of "associated benefits" including taxes and lease payments from a planned partnership between state-run copper miner Codelco and lithium company SQM from 2031, Codelco chairman Maximo Pachecho said at an event on Tuesday. The two companies are negotiating the details of the agreement to partner on lithium mining in the Atacama salt flat, with a May 31 deadline to reach a final deal.