Kidman, SQM may have to forfeit lithium mine after Australian govt ruling

Australia's Kidman Resources and Chilean partner SQM may lose their right to develop the Mount Holland lithium project after a recommendation by a unit of the West Australian government that regulates mining leases.

Kidman had asked the Western Australia Department of Mines for an exemption to a rule that requires mine leaseholders to spend a certain amount on site development in order to maintain their rights to their leases. Kidman argued that since it only found lithium after the period was up, it should be exempt.