SANTIAGO (Reuters) -Chilean economic development agency Corfo said on Monday it has submitted to the comptroller’s office the terms of a modified lease agreement with lithium producer SQM through 2030, and of a new 2031-2060 lease for a joint venture between SQM and state copper producer Codelco.

SQM and Codelco are expected to finalize a partnership this year in the Atacama salt flat in northern Chile that will mark the state’s first major foray into lithium production.

Corfo, which leases mining rights in the Atacama salt flat, said in a statement that its board last week approved the final version of the contracts.

They include lease payments tied to lithium prices and contributions. The contributions will be distributed to local governments and Indigenous communities to promote inve

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