Potash Corp CEO says Chinese firms show interest in SQM: Reuters

Chinese groups have shown “broad interest” in buying Potash Corp of Saskatchewan’s stake in Chilean lithium producer SQM, Reuters reported, quoting Potash Corp Chief Executive Jochen Tilk. Potash has agreed to divest its 32 percent stake in SQM, as well as minority stakes in ICL-Israel Chemicals Ltd and Arab Potash Co, to comply with regulators’ concerns in China and India about its merger with Agrium Inc. Lithium is a key component in building electric vehicles. China is the world’s biggest consumer and producer of lithium products, Tilk said. Rio Tinto, Canada’s Wealth Minerals Ltd and Chinese private equity firm GSR Capital are considering a bid for the SQM stake, banking sources told Reuters last week.

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