(Bloomberg) -- Chile’s SQM called another investors meeting at the request of its second-largest shareholder, Tianqi Lithium Corp., which seeks greater clarity over a proposed deal with copper giant Codelco.Most Read from BloombergUS Sees Imminent Missile Strike on Israel by Iran, ProxiesUS Slams Strikes on Russia Oil Refineries as Risk to Oil MarketsChinese Cement Maker Halted After 99% Crash in 15 MinutesUS Inflation Refuses to Bend, Fanning Fears It Will StickMcKinsey Starts Hundreds of Job C
(Bloomberg) -- Undeterred by slumping profits, China’s lithium giants are planning to grab a bigger slice of the market.Most Read from BloombergErdogan Suffers Historic Loss in Turkey Municipal ElectionsUS Oil Suppliers Muscling Into OPEC+ Markets All Over the WorldGold Retreats From Record as US Factory Data Spurs Fed DebateTreasuries Slide as Fed Bets Fade on Factory Data: Markets WrapTesla Has Wall Street Worried About How Many Cars It Just SoldTianqi Lithium Corp. and Ganfeng Lithium Group C
Tianqi, a global lithium rival that holds about 20% of SQM shares, last week raised concerns over transparency in the talks with Codelco, which is slated to take a 50% plus one share stake in the new joint venture beginning in 2025 under a government policy aimed at boosting state control in Chile's lithium industry. SQM, the world's No. 2 lithium producer, and Codelco reached an initial agreement in December and aim to finalize details by May 31. Tianqi Chief Executive Frank Ha emphasized the company's worries over the Codelco deal in comments to Chilean newspaper La Tercera published Saturday.