Chile is set to take its contract row with US lithium manufacturer Albemarle to the Paris-based International Chamber of Commerce for international arbitration. Chilean development agency Corfo claimed Albemarle has violated a 2016 deal requiring the firm to offer a discount of as much as 25 percent on its annual lithium production to local companies, aiming to boost Chile's economy. The US company said it had made several offers but there was a "substantial difference" between Corfo's demands and the original contract agreement.
Chile is set to take its contract row with US lithium manufacturer Albemarle to the Paris-based International Chamber of Commerce for international arbitration. Chilean development agency Corfo claimed Albemarle has violated a 2016 deal requiring the firm to offer a discount of up to 25% on its annual lithium production to local companies, aiming to boost Chile's economy. The US company said it had made several offers but there was a "substantial difference" between Corfo's demands and the original contract agreement.