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Article

1 May 2021

Author:
Reuters

Chile: Regulators settle a high stakes dispute over reserves data with top lithium producer Albemarle

“Chile settles dispute with Albemarle over lithium reserves data”, 23 April 2021

...Chilean regulators have settled a high stakes dispute over reserves data with top lithium producer Albemarle Corp (ALB.N), according to a letter viewed by Reuters...Chile in 2016 gave Albemarle approval to hike production from the lithium-rich Atacama salt flat on condition the miner prove its reserves could sustain the increased output. But Chilean nuclear agency CCHEN, which also licenses lithium exports, said in January that Albemarle had failed to provide the necessary reserves data, a key stipulation in their permit...CCHEN said it had "thoroughly studied" new reserves data provided by Albemarle and had determined the report was "satisfactory" and complied with the terms of Albemarle's 2016 license...Albemarle told Reuters by email on Friday that it has "complied with all our obligations and requests from Chilean public agencies"...CCHEN did not immediately respond to a Reuters request for comment...The spat over reserves data festered for months, in part because Albemarle had initially sought to keep some information confidential, saying U.S. Securities and Exchange Commission rules impeded it from turning it over, filings show...CCHEN relies in large part on miners to provide data on the Atacama's reserves. Albemarle is one of two lithium miners operating on the flat, home to nearly one-quarter of the world's current supply of the white metal...