China 's Tianqi Lithium has bought a 24 % stake in Chilean miner SQM from UK - based fertiliser company Total for almost $ 4.1bn . Tianqi said it would buy 62.5 million SQM A ##ES from Nutrien for $ 1 each . However , Chile 's anti - trust regulator , the FNE , could still block the sale , which would give Tianqi a controlling stake in SQM , the world ’s second - largest lithium producer . The FNE has until August , plus possible extensions , to decide whether it will launch a full investigation into the deal .
China's Tianqi Lithium has bought a 24% stake in Chilean miner SQM from Canada-based fertiliser company Nutrien for almost $4.1bn. Tianqi said it will buy 62.5 million SQM A shares from Nutrien for $65 each. However, Chile's anti-trust regulator, the FNE, could still block the sale, which would give Tianqi a controlling stake in SQM, the world’s second-largest lithium producer. The FNE has until August, plus possible extensions, to decide whether it will launch a full investigation into the deal.