According to Reuters, Corfo – the Chilean development agency – has reached an agreement with Lithium company SQM, bringing an end to a dispute over royalties in Chile’s Salar de Atacama.
The deal has reportedly freed the miner to apply for an increase in its production quota in a market that is seeing increased demand and prices for Lithium.
The dispute, which started in May 2014 after Chilean authorities accused SQM of underpaying royalties and violating environmental regulations, had threatened to affect Nutrien Ltd’s bid to divest its stake in SQM. As part of an agreement with Indian regulators, the newly formed company is required to sell its shares in the Chilean lithium miner.