Chile's Codelco says outgoing CFO to stay involved in state lithium negotiations

Chile state copper producer Codelco's outgoing CFO Alejandro Rivera will continue to be involved in the company's ongoing negotiations for state control over the country's lithium industry the company told Reuters on Friday.

In a statement, Codelco said Rivera would continue to be linked to negotiations with lithium miner SQM , the largest lithium producer in Chile, and in the Maricunga salt flat "from outside Codelco, in a role that has yet to be defined." Codelco announced

Rivera's resignation on Thursday, effective Nov. 3, amid a credit rating downgrade and growing debt.

Rivera has been closely involved with Codelco's lithium strategy for years. In May, Codelco launched two subsidiaries to run the government's lithium plans.

Chile's government has tasked Codelco, the world's largest copper producer, with negotiating public-private partnerships with state control for existing lithium miners SQM and Albemarle as well as new lithium operations in the Maricunga and Atacama salt flats.

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