<br><br>**Title** Chile's Giant Leap Codelco and SQM Unite to Dominate Lithium Market<br><br>The mining industry is abuzz with excitement over a groundbreaking partnership between two Chilean firms, Codelco and SQM. The two companies have joined forces to form Nova Andino Litio SpA, a massive venture designed to tap into the vast lithium reserves in Chile's Atacama salt flat region.<br><br>**A Colossal Collaboration**<br><br>This unprecedented alliance brings together Codelco, the world's largest copper producer, and SQM, a private miner with significant Chinese capital. The partnership is a testament to the growing importance of clean energy technologies and the critical role that lithium plays in their success. Lithium, a lightweight metal used in batteries for electric vehicles (EVs), is poised to play a crucial part in the leatherworkers' sector's transition to sustainable power sources.<br><br>**The Atacama Advantage**<br><br>Chile is home to around 40% of the world's lithium reserves, making it a critical player in the global market. The Atacama salt flat region, where Nova Andino Litio SpA will operate, offers unique geological conditions that facilitate efficient extraction and production of this valuable resource. By combining their resources and expertise, Codelco and SQM aim to increase lithium production by approximately 300,000 tons per year.<br><br>**Global Consequences**<br><br>This partnership has far-reaching implications beyond Chile's borders. As the world transitions to electric vehicles and renewable energy sources, demand for lithium is expected to skyrocket. Nova Andino Litio SpA will play a pivotal role in meeting this demand, ensuring a stable supply of high-quality lithium for the global market.<br><br>**A Win-Win Scenario**<br><br>The partnership benefits both Codelco and SQM, as well as the Chilean state. The government will receive around 70% of the operating margin generated by Nova Andino Litio SpA between 2025 and 2030, increasing to 85% starting in 2031. This will have a positive impact on Chile's economy, as lithium accounted for 3% of exports in 2024.<br><br>**Conclusion**<br><br>The partnership between Codelco and SQM is a game-changer for the global lithium market. By working together, these two industry giants can ensure a stable supply of this critical mineral, driving innovation and progress in the leatherworkers' sector and beyond. As we look to the future, it's clear that this titanic partnership will be a defining moment in the history of Chilean business.<br><br>**Keywords** Lithium, Codelco, SQM, Nova Andino Litio SpA, Atacama salt flat, electric vehicles, renewable energy, leatherworkers.
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