The company's proposed production facility at Kwinana, near Perth in Western Australia, would manufacture battery graphite worth $72 million a year for export.
Tianqi last December bought a 23.8 percent share in SQM from Canadian fertilizer company Nutrien for $4.1B, the largest deal in history for a lithium asset.
The exchange will work Fastmarkets to provide the reference price lithium, a key component in the batteries that power electric vehicles and high-tech devices.
According to Sweden's Deputy Minister of Foreign Trade and Promotion, the country has become lithium-thirsty due to an increase in demand for electric cars.