Codelco and SQM have established Nova Andino Litio SpA, a new joint venture formed through the merger of their subsidiaries Minera Tarar SpA and SQM Salar SpA. The company will oversee lithium exploration, exploitation, production, and commercialization in the Salar de Atacama until 2060.
The formation of NovaAndino Litio marks the completion of a public-private partnership between Codelco and SQM. This partnership is described as one of the most significant in Chile’s business sector, combining state involvement with operational experience and governance.
NovaAndino Litio consolidates assets, subsidiaries, international offices, permits, technical expertise, and personnel needed for its operations. This follows an internal reorganization by SQM that took place from 2024 to 2025. The agreement also maintains current operational contracts in the Atacama Salt Flat with Corfo and anticipates future agreements set to begin in 2031.
Máximo Pacheco, Chairman of the Board of Codelco, stated: “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.”
The merger follows a Partnership Agreement signed on May 31, 2024. The process included reviews by over 20 organizations both inside Chile and internationally. An Indigenous consultation process was conducted under Corfo’s leadership. Information about the agreement has been made publicly available throughout ( www.acuerdocodelcosqm.cl ).
Ricardo Ramos, general manager of SQM, commented: “this joint venture allows us to project the development of the Atacama Salt Flat and continue advancing with standards of operational excellence, sustainability and shared value creation, combining complementary capabilities for the benefit of Chile and global markets.”
The board for NovaAndino Litio will include three representatives each from Codelco—Máximo Pacheco, Josefina Montenegro, Alfredo Moreno—and from SQM—Ricardo Ramos, Hernán Uribe, Manuel Ovalle. Their first meeting is scheduled for Monday, December 29.
As part of this partnership’s terms, SQM has transferred all mining concessions it held in the Maricunga Salt Flat to Codelco. This transfer enhances Chile’s state position in that area and supports potential future lithium projects.
