Codelco's acquisition of Lithium Power International has been awarded the Impact Deal of the Year by ITR, emphasizing its strategic importance in the lithium sector and the global energy transition.

Target Company Overview

Codelco has been recognized as the Impact Deal of the Year by International Tax Review (ITR) for its strategic operation involving the acquisition of Lithium Power International (LPI), an Australian publicly listed company. This transaction, finalized in March 2024, granted Codelco ownership of the Salar de Maricunga lithium project located in the Atacama Region of Chile. The acquisition is pivotal for Codelco, as it aims to establish a significant operational foothold in the lithium market, reinforcing its strategy in the critical minerals sector.

The ITR award celebration took place at the prestigious Metropolitan Club in New York, featuring esteemed tax teams from across the Americas. The recognition highlights the complexities involved in acquiring a publicly listed company with assets spread across various jurisdictions, showcasing Codelco's capacity to navigate such challenges effectively.

Industry Overview in Australia

The lithium industry in Australia plays a critical role in the global transition to renewable energy, given the increasing demand for lithium-ion batteries in electric vehicles and energy storage systems. Australia is the world's larges