The world's largest salt lake resources recently ushered in a new development, the salt lake lithium extraction giant SQM announced that it will reach a memorandum of understanding with the Chilean state-owned Chilean National Copper Company (Codelco) to jointly develop lithium resources. This news has attracted the close attention of its shareholder Tianqi Lithium.

Tianqi Lithium is one of the world's largest lithium resource owners, holding a 22.16% stake in SQM, which operates a project with large global reserves, the lithium saline Atacama project, which accounts for 44% of the world's total saline supply. With the lithium market boom, lithium resources are regarded as an important strategic resource, and the cooperation between SQM and Chilean National Copper Company will affect the global lithium resources pattern.

Tianqi Lithium is highly concerned about this matter and has requested the board of directors of SQM to convene an extraordinary general meeting to obtain more information about the MOU. Meanwhile, Gonzalo Guerrero, Chairman of the SQM Board of Directors, has also responded to the matter. The two sides have now agreed to extend the deadline until May 31, when the final fate of the world's vast salt lake resources will be revealed.

Tianqi Lithium's annual report shows that SQM realized a net profit of RMB 14.136 billion last year, and lithium product sales increased by 8.42% year-on-year. Despite the market changes, SQM still maintains a good operating situation.