Santiago—China’s Tianqi Lithium, the country’s largest lithium producer, has signed a non-binding offer with Chile’s Sociedad de Inversiones Ore Blanco SA to bid for its 88.62 percent stake in Sociedad de Inversiones Pampa Calichera SA, which in turn holds 23 percent of Sociedad Química y Minera de Chile SA (SQM), according to a Bloomberg report. The indirect holding in SQM has been up for sale since December. Late last month, Ningbo Shanshan Co. Ltd., a Chinese manufacturer of lithium battery materials, was reported to be in advanced talks to buy up to a 30 percent stake in SQM (GM Aug. 26, p. 14). This suggests Ningbo Shanshan may be looking to acquire former SQM CEO Julio Ponce’s shares in SQM, as well as the Oro Blanco shareholding. Ponce, via the Pampa Group, holds a total 29.97 percent stake in SQM. Other companies said to have shown interest include China’s CITIC CLSA Capital Markets Ltd. and Israel Chemicals Ltd. (ICL) (GM March 25, p. 13; Jan. 4, p. 14). However, ICL said this week it would not be bidding for the indirect stake that is for sale. Potash Corp. of Saskatchewan Inc., which already owns a 32 percent shareholding in SQM, has attempted to gain control of the company in the past.
Transparency Across the Fertilizer Value-Chain