-- Chile’s government indicated that SQM and Codelco will proceed with the signing of a binding lithium partnership by Friday’s self-imposed deadline even as the deal faces mounting headwinds.“We hope that the agreed deadlines will be met,” Finance Minister Mario Marcel, 64, said Thursday in an interview from New York. “Any agreement of this size does not end simply with the signing of a document. There’s a whole implementation process that continues.
“We are going through stages,” Marcel said. “We had the MOU in December of last year, now it’s a matter of meeting the deadline for signing the definitive agreement and then come all these other implementation issues that involve regulatory, financial requirements, etc.”An economist trained at University of Cambridge, Marcel and other top officials including central bank Governor Rosanna Costa traveled to Toronto and New York this week to hold meetings with investors and global banks.
Chile’s gross domestic product expanded 1.9% in the first quarter, marking the fastest expansion since 2021, according to the central bank. Earlier in May, the government lifted its 2024 growth forecast to 2.7%. “The Chilean economy is already in a period of expansion,” Marcel said. “On top of that, you have more favorable situation in the copper market which adds to the growth impulse for 2024 and probably 2025.”Cruise operators offer summer discounts as ships crowd the Caribbean, Alaska
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