Codelco and SQM have formally launched Nova Andino Litio SpA, completing the merger of their subsidiaries Minera Tarar SpA and SQM Salar SpA and cementing one of the most significant public-private partnerships in Chile’s business history. 

The new joint venture will lead the exploration, exploitation, production and commercialization of lithium in the Salar de Atacama through 2060. The transaction was disclosed to the market through an Essential Fact filed with the Financial Market Commission (CMF). 

With the creation of Nova Andino Litio, the long-anticipated alliance between the state-owned mining giant and the global lithium producer is now fully operational, combining state leadership, international-scale operational expertise and a modern governance framework. 

The new company consolidates all assets, subsidiaries, international offices, permits, technical capabilities and human capital required to operate the lithium business, following a reorganization process carried out by SQM between 2024 and 2025. The agreement also guarantees operational and contractual continuity in the Atacama Salt Flat, under existing contracts with Corfo and those that will take effect from 2031 onward. 

“Codelco is taking a strategic step today to actively participate in lithium production, a key resource for the global energy and digital transition. This partnership with SQM fills us with pride and reflects a new form of public-private collaboration: transparent, professional, and long-term,” said Máximo Pacheco, Chairman of the Board of Codelco.