Latest news with #Codelco
The Sun
a day ago
- Business
- The Sun
Indigenous groups seek halt to Chile lithium deal review in court
SANTIAGO: Two Indigenous groups in northern Chile have asked a local court to suspend a state-led community review process that is required for a lithium partnership between copper giant Codelco and lithium miner SQM , according to legal documents reviewed by Reuters. The Indigenous community of Coyo and the Atacameno Association of Irrigators and Farmers of San Pedro de Atacama each independently filed legal challenges last week with a Chilean appeals court in the Antofagasta region, accusing Chilean economic development agency Corfo of not properly carrying out a consultation process to seek their input on the partnership. The process is one of the final conditions for a deal to go into effect in which state-run Codelco will take a majority stake in SQM's lithium mining operations in the Atacama salt flat. The Coyo community and the Atacameno Association of Irrigators and Farmers, which has Indigenous members, said they needed more information and time to be able to provide informed consent on the plan. The Antofagasta court on Friday accepted their challenges, according to a court document. It ordered Corfo to respond to the allegations within 15 days, and asked Codelco and SQM to provide comments. Corfo told Reuters that the consultation process was still in progress. 'The Indigenous consultation process with the Atacama Indigenous organizations is moving forward and has been carried out in accordance with the regulations,' the agency said in a statement. Codelco declined to comment, while SQM did not immediately reply to a request for comment. The Indigenous consultation, which was led by Corfo and included a few dozen community groups located around the Atacama salt flat, was due to conclude around late July. SQM and Codelco are separately holding talks with communities near the salt flat to discuss a model for Indigenous oversight over lithium extraction. The Coyo community and Atacameno Association of Irrigators and Farmers both asked the court to suspend the process until a new methodology for the community review could be implemented, and more information provided. Both groups said Corfo had not provided enough detail about the proposed contract between Codelco and SQM and argued that the consultation's timeline between November 2024 and July 2025 was too fast to allow for detailed analysis. They also said Corfo at several points did not act in good faith, and did not meet the standards set out by the International Labour Organization, a U.N. agency. 'This situation directly affects the fundamental rights of the Community by limiting its influence over decisions that impact its territory, environmental surroundings, and collective rights, thereby violating constitutional guarantees,' the Coyo community said in its court filing. - Reuters
Reuters
a day ago
- Business
- Reuters
Indigenous groups ask Chile court to pause community review of Codelco-SQM lithium deal
SANTIAGO, July 15 (Reuters) - Two Indigenous groups in northern Chile have asked a local court to suspend a state-led community review process that is required for a lithium partnership between copper giant Codelco and lithium miner SQM ( opens new tab, according to legal documents reviewed by Reuters. The Indigenous community of Coyo and the Atacameno Association of Irrigators and Farmers of San Pedro de Atacama each independently filed legal challenges last week with a Chilean appeals court in the Antofagasta region, accusing Chilean economic development agency Corfo of not properly carrying out a consultation process to seek their input on the partnership. The process is one of the final conditions for a deal to go into effect in which state-run Codelco will take a majority stake in SQM's lithium mining operations in the Atacama salt flat. The Coyo community and the Atacameno Association of Irrigators and Farmers, which has Indigenous members, said they needed more information and time to be able to provide informed consent on the plan. The Antofagasta court on Friday accepted their challenges, according to a court document. It ordered Corfo to respond to the allegations within 15 days, and asked Codelco and SQM to provide comments. Corfo told Reuters that the consultation process was still in progress. "The Indigenous consultation process with the Atacama Indigenous organizations is moving forward and has been carried out in accordance with the regulations," the agency said in a statement. Codelco declined to comment, while SQM did not immediately reply to a request for comment. The Indigenous consultation, which was led by Corfo and included a few dozen community groups located around the Atacama salt flat, was due to conclude around late July. SQM and Codelco are separately holding talks with communities near the salt flat to discuss a model for Indigenous oversight over lithium extraction. The Coyo community and Atacameno Association of Irrigators and Farmers both asked the court to suspend the process until a new methodology for the community review could be implemented, and more information provided. Both groups said Corfo had not provided enough detail about the proposed contract between Codelco and SQM and argued that the consultation's timeline between November 2024 and July 2025 was too fast to allow for detailed analysis. They also said Corfo at several points did not act in good faith, and did not meet the standards set out by the International Labour Organization, a U.N. agency. "This situation directly affects the fundamental rights of the Community by limiting its influence over decisions that impact its territory, environmental surroundings, and collective rights, thereby violating constitutional guarantees," the Coyo community said in its court filing.
Yahoo
a day ago
- Business
- Yahoo
Indigenous groups ask Chile court to pause community review of Codelco-SQM lithium deal
By Daina Beth Solomon SANTIAGO (Reuters) -Two Indigenous groups in northern Chile have asked a local court to suspend a state-led community review process that is required for a lithium partnership between copper giant Codelco and lithium miner SQM, according to legal documents reviewed by Reuters. The Indigenous community of Coyo and the Atacameno Association of Irrigators and Farmers of San Pedro de Atacama each independently filed legal challenges last week with a Chilean appeals court in the Antofagasta region, accusing Chilean economic development agency Corfo of not properly carrying out a consultation process to seek their input on the partnership. The process is one of the final conditions for a deal to go into effect in which state-run Codelco will take a majority stake in SQM's lithium mining operations in the Atacama salt flat. The Coyo community and the Atacameno Association of Irrigators and Farmers, which has Indigenous members, said they needed more information and time to be able to provide informed consent on the plan. The Antofagasta court on Friday accepted their challenges, according to a court document. It ordered Corfo to respond to the allegations within 15 days, and asked Codelco and SQM to provide comments. Corfo told Reuters that the consultation process was still in progress. "The Indigenous consultation process with the Atacama Indigenous organizations is moving forward and has been carried out in accordance with the regulations," the agency said in a statement. Codelco declined to comment, while SQM did not immediately reply to a request for comment. The Indigenous consultation, which was led by Corfo and included a few dozen community groups located around the Atacama salt flat, was due to conclude around late July. SQM and Codelco are separately holding talks with communities near the salt flat to discuss a model for Indigenous oversight over lithium extraction. The Coyo community and Atacameno Association of Irrigators and Farmers both asked the court to suspend the process until a new methodology for the community review could be implemented, and more information provided. Both groups said Corfo had not provided enough detail about the proposed contract between Codelco and SQM and argued that the consultation's timeline between November 2024 and July 2025 was too fast to allow for detailed analysis. They also said Corfo at several points did not act in good faith, and did not meet the standards set out by the International Labour Organization, a U.N. agency. "This situation directly affects the fundamental rights of the Community by limiting its influence over decisions that impact its territory, environmental surroundings, and collective rights, thereby violating constitutional guarantees," the Coyo community said in its court filing.
Yahoo
3 days ago
- Business
- Yahoo
Ecuador to pay Codelco $25m in Llurimagua copper mining dispute
In an arbitration case, the International Chamber of Commerce ruled that Ecuador must pay $25m to Chilean state miner Codelco regarding disputes over the Llurimagua mining project, a major copper venture in northern Ecuador, as reported by Reuters. Ecuador's attorney general's office has claimed that this sum represents a victory, as it is significantly less than Codelco's original claim of $567.7m. In 2016, Codelco and Ecuador's state miner Enami EP agreed to develop the Llurimagua project jointly. Codelco then accused Ecuador of not fulfilling its obligations, including establishing a joint venture to operate the mine, in which Enami would hold a 51% stake and Codelco would hold the remaining 49% stake. The Ecuador attorney general's office stated that the ruling, which orders reimbursement of $25.3m, saves the state $540m and is considered "a resounding legal victory for Ecuador." Under the ruling, Enami EP will maintain full ownership and control of the Llurimagua project. Codelco, however, also interprets the court's decision as a win, noting that Ecuador was found to have civil responsibility for not adhering to agreements. The company highlights that the court ruled against Ecuador for not negotiating in good faith and for failing to finalise the joint venture plans. Codelco also emphasised that the court denied Ecuador and Enami EP's request for the handover of geological information gathered by Codelco at Llurimagua, which remains the property of the Chilean miner. The company is considering its next steps following the judgment. In a separate legal action, Codelco initiated another arbitration process against Ecuador in 2022 with the International Centre for Settlement of Investment Disputes, which is still in progress. In early July 2025, the Chilean Nuclear Energy Commission (CChEN) authorised Minera Tarar, a subsidiary of Codelco, to commence lithium extraction in the Salar de Atacama from 1 January 2031. "Ecuador to pay Codelco $25m in Llurimagua copper mining dispute" was originally created and published by Mining Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Bloomberg
5 days ago
- Business
- Bloomberg
Codelco Copper Recovery on Track With Output Up 9% in First Half
Codelco posted a 9% production increase in the first half compared with a year earlier, signaling that the world's biggest copper supplier is on track in its recovery efforts. Chairman Maximo Pacheco announced the result at a ceremony marking the anniversary of the nationalization of the El Teniente mine in central Chile. He didn't give details, and it was unclear if the number included Codelco's share of output from mines it doesn't operate.
