Chilean Lithium Sector Faces Turmoil as China’s Tianqi Lithium Challenges New State Control Deal

China’s Tianqi Lithium Corp. is pushing back against a Chilean government initiative designed to increase state control over crucial lithium resources. Tianqi, which holds a 22% interest in the Chilean lithium mining company Sociedad Quimica y Minera de Chile SA (SQM), has voiced concerns following SQM’s definitive agreement granting Codelco, a state-owned copper firm, a majority stake in its lithium assets. In a statement released on Monday, Tianqi suggested it might take action to safeguard its interests, indicating a potential dispute over the future control and ownership of significant lithium resources in Chile.