Chile’s Lithium Juggernaut: Codelco and SQM Join Forces to Control 40% of Global Reserves
Chile's Codelco and SQM have formed a giant joint venture to exploit lithium, controlling 40% of global reserves. A major move for the EV supply chain.
Chile's shaking up the 'white gold' market. The world's leading copper producer is now doubling down on its lithium dominance, creating a state-private hybrid that could dictate the future of electric vehicles.
The Birth of a Resource Powerhouse
On Saturday, December 27, 2025, Chile’s state-owned Codelco and the private mining firm SQM announced the creation of a massive joint venture. This new entity will oversee the exploitation of lithium, the lightweight metal essential for powering the EV revolution.
Leveraging 40% of Global Reserves
Chile isn't just another player; it's the world’s second-largest producer and holds a staggering 40% of the world's known lithium reserves. This partnership marks a pivotal shift in how these critical minerals are managed.
- State Control: Codelco ensures the Chilean government maintains a firm grip on national resources.
- Private Expertise: SQM brings technical proficiency and existing infrastructure to the table.
- Geopolitical Link: With Chinese capital embedded in SQM, the venture maintains a direct line to the world's largest EV market.
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