Nov. 12 (UPI) -- China's antitrust regulator, the State Administration for Market Regulation, granted final approval to conditions for a joint venture between Chilean companies Codelco and SQM to produce lithium in the Salar de Atacama (the Atacama Salt Flat) in northern Chile.
This was the last pending international approval and clears the way to implement the agreement, which will allow the Chilean state to take part in producing the strategic mineral, El Mercurio reported.
The decision followed consultations with government agencies, competitors and consumers.
The regulator found that the level of market concentration expected from the joint venture could harm competition in China, and therefore approved the deal with conditions intended to protect supply for Chinese industry.
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