1 MONGOLIA'S INDUSTRIAL OUTPUT RISES 19.5 PCT IN FIRST 11 MONTHS WWW.XINHUANET.COM PUBLISHED:2018/12/13      2 POWER FOR EVERY STAGE OF THE MINE LIFECYCLE WWW.AGGREKO.COM PUBLISHED:2018/12/13      3 CHINA EXPRESS PLANS SCHEDULED FLIGHTS TO MONGOLIA, LAOS, THE PHILIPPINES AND SINGAPORE IN 2019 WWW.KUCINTA-SETIA PUBLISHED:2018/12/13      4 REVENUE OF RAIL AND AIR TRANSPORTS INCREASES RESPECTIVELY WWW.MONTSAME.MN PUBLISHED:2018/12/13      5 TAX REVENUE INCREASES BY 30.8 PERCENT WWW.MONTSAME.MN PUBLISHED:2018/12/13      6 CONSTRUCTIONAL PROJECT OF THERMAL POWER PLANTS ADVANCES WWW.MONTSAME.MN PUBLISHED:2018/12/13      7 GOVERNOR OF BOM COMMENTS ON FX INTERVENTION OF THIS YEAR WWW.ZGM.MN PUBLISHED:2018/12/13      8 SME DEMAND FOR GREEN CREDIT TOTALS USD 1.5 BILLION WWW.ZGM.MN PUBLISHED:2018/12/13      9 MONGOLIA CALLS FOR POLITICAL FINANCE REFORM AMID POLITICAL TURMOIL WWW.IDEA.INT PUBLISHED:2018/12/12      10 RIO TINTO'S PARTNER IN AUSSIE COPPER PROJECT REPORTS 'WEAK MINERALIZATION' WWW.MINING.COM PUBLISHED:2018/12/12      АГААРЫН БОХИРДЛЫГ БУУРУУЛАХАД БНСУ-ЫН БАНКНААС 60 САЯ АМ.ДОЛЛАР ЗЭЭЛНЭ WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2018/12/13     2019 ОНД ЭКСПОРТЫН ОРЛОГО ТӨЛӨВЛӨСӨН ХЭМЖЭЭНД ХҮРЭХГҮЙ БАЙХ БОДИТ ЭРСДЭЛ БАЙНА ГЭЖ ЭДИЙН ЗАСАГЧИД АНХААРУУЛАВ WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2018/12/13     “ЭРДЭНЭС ТАВАН ТОЛГОЙ”-Н IPO-Г ЗАСГИЙН ГАЗАР, УИХ-Д ТАНИЛЦУУЛНА WWW.NEWS.MN НИЙТЭЛСЭН:2018/12/13     ИНФЛЯЦИ 2018 ОН ГАРСНААС ХОЙШИХ ХАМГИЙН ӨНДӨР ТҮВШИНД ХҮРЛЭЭ WWW.GOGO.MN НИЙТЭЛСЭН:2018/12/13     ТОКИОД МОНГОЛ УЛСЫН ХУДАЛДААНЫ ТӨЛӨӨЛӨГЧИЙН ГАЗАР НЭЭНЭ WWW.EAGLE.MN НИЙТЭЛСЭН:2018/12/13     НИЙТИЙН ТЭЭВРИЙНХЭНД 73.4 ТЭРБУМ ТӨГРӨГ ӨГНӨ WWW.UNUUDUR.MN НИЙТЭЛСЭН:2018/12/13     “ОЮУ ТОЛГОЙ” ХХК-ИЙН ХЭРЭГЖҮҮЛЖ БУЙ ДОТООДЫН ТЭТГЭЛЭГТ ХӨТӨЛБӨРТ 2018-2019 ОНЫ ХИЧЭЭЛИЙН ЖИЛД ХАМРАГДАХ 30 ОЮУТАН ШАЛГАРЛАА WWW.OT.MN НИЙТЭЛСЭН:2018/12/13     БНСУ-ЫН БАЙГУУЛЛАГУУД МОНГОЛД ОЙЖУУЛАХ ТӨСӨЛ ХЭРЭГЖҮҮЛНЭ WWW.MONTSAME.MN НИЙТЭЛСЭН:2018/12/13     2019 ОНД ХӨГЖЛИЙН БЭРХШЭЭЛТЭЙ ИРГЭДИЙН ТЭТГЭВРИЙГ НЭМЭГДҮҮЛЭХЭД 21.2 ТЭРБУМ ТӨГРӨГ ЗАРЦУУЛНА WWW.UNUUDUR.MN НИЙТЭЛСЭН:2018/12/12     ЕРӨНХИЙ САЙД ЯПОН УЛСЫГ ЗОРИЛОО WWW.DNN.MN НИЙТЭЛСЭН:2018/12/12    

Rio Tinto pulls offer for stake in world’s largest lithium miner www.mining.com

Global miner Rio Tinto (ASX, LON:RIO) is said to have ditched plans to own a stake in Chile’s Chemical and Mining Society (SQM), the world's largest lithium producer, due to a mix of tricky politics and the fact that such miner is currently the target of several claims.

Chilean authorities accuse SQM of underpaying royalties, environmental violations and illicit political financing, which have made the sale process complex, raising at the same time the specter of delays or a steep price discount, local paper Diario Financiero reports (in Spanish).

Decision to withdraw offer for Nutrien’s 32% stake in SQM, worth about $5 billion at current market prices, doesn’t mean Rio Tinto has abandoned plans to capitalize on the electric-car boom.
The company has denied those allegations, adding it is sure a high-stakes arbitration with the government over royalties in Chile's Atacama salt flat will be resolved in its favour.

Rio’s decision withdraw an offer for Nutrien’s 32% stake in the Santiago-based lithium miner, worth about $5 billion at current market prices, doesn’t mean the company has abandoned plans to capitalize on the electric-car boom, the article says.

Nutrien, formed through Canada’s Potash Corp. of Saskatchewan (TSX, NYSE:POT) recent friendly merger with Agrium, must sell its stake in SQM to meet a condition imposed by Indian regulators when approving that link-up.

They have given the fertilizer company until April 2019 to divest its stake in the Chilean miner.

SQM, which has a market value at just over $15 billion, produced roughly 44,000 tonnes of lithium carbonate last year and is developing new projects both in its home-country and Australia.

Laws enacted in the 1970s and 1980s classify lithium as a “strategic” commodity for Chile on the grounds it can be used in nuclear-fusion power plants. While the South American nation is very unlikely to build one of those facilities any time soon, controls on lithium production remain and only two firms — SQM and US chemical company Albenarle Corporation (NYSE:ALB) — are currently allowed to mine the white metal used in electric car batteries.



Published Date:2018-01-12