Chile vows to take lithium giant Albemarle to arbitration over royalty spat

Chilean regulators have accused Albemarle of underpaying royalties by $11 million and vowed to take the U.S.-based miner to international arbitration over what they called a breach of its contract with the government. Corfo, which oversees Albemarle’s contract for lithium mining in Chile’s Salar de Atacama, told lawmakers the miner had misinterpreted the part of their agreement that outlines the basis for royalty payments, favoring a too-low commission on its sales.

Source: Reuters