Nova Andino Litio

Nova Andino Litio is a Chilean public–private lithium-mining company created through the association of state-owned Corporación Nacional del Cobre de Chile (Codelco) and Sociedad Química y Minera de Chile (SQM). Its operating focus is the extraction of lithium-rich brines from the Salar de Atacama in northern Chile, one of the world's major lithium-producing regions. The company is a strategic vehicle for the Chilean state's increased participation in lithium production under the National Lithium Strategy announced by President Gabriel Boric. The company's origins lie in negotiations between Codelco and SQM that began in 2023. The transaction was implemented on December 27, 2025, when Salar, an SQM subsidiary organized as a Chilean SpA, absorbed Minera Tarar, a Codelco subsidiary, and subsequently adopted the name Nova Andino Litio. The resulting entity combines state control of key assets with SQM's operational role in the Salar de Atacama. In the arrangement, Codelco retains control over the assets while SQM is responsible for operating the production activities. Nova Andino Litio is governed through a balanced board structure with three representatives appointed by Codelco and three by SQM. As reported at the time of its creation, the general manager came from SQM and the financial manager came from Codelco, reflecting the company's hybrid governance model. SQM is itself a publicly traded chemical and mining company, and 23.77% of SQM is owned by Tianqi Lithium, a major Chinese lithium producer. Tianqi challenged the Codelco–SQM combination, but Chile's Supreme Court rejected the objection in late January 2026. The partnership is designed to give the Chilean state a larger share of the economic value generated by expanded production. Under the reported agreement, the state is expected to receive approximately 70% of the operating margin associated with new production during the initial period. From 2031, the state's share of that operating margin is expected to rise to approximately 85%. The state-related proceeds are distributed through taxes, payments to the Chilean Production Promotion Corporation (Corfo), and profits received through Codelco. The agreement is intended to continue until 2060, after which the Chilean state may seek new partners for lithium extraction in the relevant Salar de Atacama concession. The company is not presented as a consumer-facing product brand. Its commercial activity is the production of lithium-bearing materials for the global battery, electric-vehicle, energy-storage, and broader industrial supply chains, although the available reference material does not identify separately branded chemical products or detailed production volumes. Nova Andino Litio's significance therefore lies primarily in its ownership structure, control of strategic mineral assets, and role in Chile's national lithium policy. Its creation has also attracted criticism because SQM has a history associated with corruption controversies, making the partnership politically sensitive despite its stated objective of increasing public participation in lithium revenues.

Nova Andino Litio emerged from Chile's effort to expand state participation in the lithium industry. Its formation followed President Gabriel Boric's National Lithium Strategy and negotiations begun in 2023 between Codelco, Chile's state-owned copper and mining company, and SQM, the private chemical and mining group that operated lithium resources in the Salar de Atacama. The structure was completed on December 27, 2025. Salar, an SQM subsidiary incorporated as a Chilean SpA, absorbed Minera Tarar, a Codelco subsidiary also organized as an SpA. After the absorption, the surviving company changed its name to Nova Andino Litio. The transaction created a single operating vehicle linking Codelco's public ownership and asset-control role with SQM's established operational presence in the Salar de Atacama. Under the agreed governance arrangement, Codelco retains control of the assets while SQM operates the Salar de Atacama activities. The board has six members, with three representatives from each shareholder. The management arrangement reported at the company's creation also reflected this division: the general manager came from SQM and the financial manager from Codelco. No individual officeholders are identified in the available reference material. The economic design gives the Chilean state a substantial share of the value from additional production. The reported agreement provides the state with approximately 70% of the operating margin associated with new production, with the share expected to increase to approximately 85% from 2031. These benefits are received through taxes, Corfo payments, and Codelco profits. The arrangement is scheduled to run until 2060, after which Chile may consider new partners for lithium extraction in the former SQM concession area. The partnership has a complex shareholder and political context. SQM is partly owned by Tianqi Lithium, which holds 23.77% of SQM. Tianqi objected to the combination, but Chile's Supreme Court rejected the objection in late January 2026. The association with SQM has also drawn criticism because of the company's history of corruption controversies. That criticism forms part of the public debate surrounding the transaction, although the available material does not identify a separate corruption finding against Nova Andino Litio itself. Nova Andino Litio's business is concentrated on lithium-rich brines in the Salar de Atacama. The company is therefore an upstream materials producer rather than a consumer brand, and its output serves lithium-chemical and battery-related supply chains. The available reference does not provide detailed production statistics, named downstream products, revenue figures, or a separately reported international retail presence.

• 2026

  Supreme Court upholds the corporate combination

  [1]Nova Andino Litioen.wikipedia.org

  Chile's Supreme Court rejected Tianqi Lithium's objection to the merger-related transaction.

• 2025

  Nova Andino Litio is created

  [1]Nova Andino Litioen.wikipedia.org

  On December 27, Salar absorbed Codelco subsidiary Minera Tarar and then adopted the Nova Andino Litio name.

• 2023

  Codelco–SQM negotiations begin

  [1]Nova Andino Litioen.wikipedia.org

  Negotiations begin in the context of Chile's National Lithium Strategy and the government's objective of increasing public participation in lithium development.

A state-partnered Chilean lithium producer positioned around public control of strategic mineral assets, SQM's operating expertise, and increased national participation in lithium revenues.

• Lithium mining · 2025

  Salar de Atacama lithium brine

  Nova Andino Litio's principal business is the extraction of lithium-rich brines from the Salar de Atacama in northern Chile. The brine is an upstream lithium resource rather than a consumer product and enters industrial processing and battery-material supply chains. The available material does not identify specific lithium chemicals, grades, volumes, or separately marketed product brands.

• 2025

  Political criticism over association with SQM

  The creation of Nova Andino Litio attracted criticism because SQM, its private-sector partner, has a history associated with corruption controversies. The available reference describes this as criticism of the partnership and does not establish a separate corruption case involving Nova Andino Litio.

  Source

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• 2026

  Defend the transaction before Chile's Supreme CourtOther

  Background

  Tianqi Lithium, a major SQM shareholder, objected to the merger-related combination that created Nova Andino Litio.

  Action taken

  Chile's Supreme Court rejected Tianqi's objection in late January 2026.

  Aftermath

  The corporate combination remained in place following the court decision.

  • Tianqi Lithium — Objected to the merger-related transaction as a major shareholder of SQM.

  Source

• 2025

  Combine Salar and Minera TararM&A

  Background

  Codelco and SQM sought to create a joint vehicle for lithium operations in the Salar de Atacama under Chile's National Lithium Strategy.

  Action taken

  Salar absorbed Codelco subsidiary Minera Tarar on December 27, after which the surviving company was renamed Nova Andino Litio.

  Aftermath

  The transaction established a public–private company with Codelco controlling the assets and SQM operating the Salar de Atacama activities.

  Source

• 2025

  Adopt a state-led lithium revenue modelStrategy

  Background

  The partnership was designed to increase Chilean state participation in the economic returns from new lithium production.

  Action taken

  The agreement allocated approximately 70% of the operating margin associated with new production to the Chilean state, with the expected share rising to approximately 85% from 2031.

  Aftermath

  State-related proceeds are expected to flow through taxes, Corfo payments, and Codelco profits, with the arrangement intended to continue until 2060.

  State share of operating margin associated with new production. Approximately 70%; expected to reach approximately 85% from 2031 (Agreement announced at formation; 85% expected from 2031 through the arrangement's stated 2060 horizon)

  Source

1. 1Nova Andino Litioen.wikipedia.org