Chile’s SQM Inc. and state-owned Codelco agreed to amend a nonbinding Memorandum of Understanding to extend the deadline from March 31 to May 21 to agree to and sign definitive partnership documents, SQM said in a filing.
A framework agreement had been reached in December (GM Jan. 5, p. 1). The deadline extension comes as SQM’s second-largest shareholder, China’s Tianqi, seeks further information on the proposed Codelco arrangement in an extraordinary shareholders’ meeting on March 21, according to Bloomberg.