Nova Andino Litio SpA, a joint venture of Codelco and SQM, has launched its governance to develop lithium production sustainably in Chile's Salar de Atacama.

Information on the Target

Nova Andino Litio SpA is a newly formed joint venture between Codelco and SQM established to oversee the production of lithium from the Salar de Atacama. This collaborative effort marks a strategic transition for Codelco, positioning the company not only as a major player in copper production but now also in the lithium sector. The executive team includes notable figures such as Máximo Pacheco, serving as president, and Ricardo Ramos, as vice president, alongside experienced executives from both companies.

The launch of Nova Andino Litio follows extensive negotiations that began in May 2023 under Chile's National Lithium Strategy, which mandated state involvement in lithium production operations. The partnership reflects a commitment to sustainable practices, high environmental standards, and transparent governance in developing this crucial mineral resource.

Industry Overview in Chile

Chile is recognized as one of the world's leading lithium producers, accounting for approximately 21% of global production. The Salar de Atacama, in particular, is one of the most significant lithium-rich salt flats worldwide, making it a focal p