Tianqi Lithium (HKG:9696, SHE:002466) said a Chilean court has dismissed a claim filed by its wholly owned subsidiary, Tianqi Chile, against a regulatory decision related to the partnership agreement signed between SQM and Codelco, according to a Wednesday Hong Kong bourse filing.
Shares of the firm gained over 9% in Thursday's late morning trade.
The ruling, received on Nov. 12, is not final under Chilean law, the company said.
Tianqi Chile lodged the claim in July 2024, arguing that SQM entered into the partnership with Codelco without seeking shareholder approval, infringing its voting rights as an SQM shareholder.
Tianqi said it will conduct a comprehensive assessment of the judgment and may take further action, including a possible appeal.
The company does not expect an impact on current-period profit.
Tianqi added that under the SQM-Codelco partnership, control of SQM's core lithium operations at Salar de Atacama is expected to shift to Codelco from 2031.
Any future change in SQM's profitability could affect investment returns and dividends received by Tianqi as SQM's second-largest shareholder, the filing added.
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