Tianqi Lithium's equity-holding company SQM faces nationalization by the Chilean government

Tianqi Lithium failed to block the "public-private partnership" agreement between SQM and Chile's National Copper Corporation, which would allow the Chilean government to obtain most of the profits from SQM's lithium business. Tianqi Lithium holds about 22.16% of SQM's shares and has received high investment returns from SQM. SQM is the world's second largest lithium miner and owns the mining rights of Chile's Atacama Salt Lake.