The government of Chile, a country with the world’s biggest reserves of lithium, noted strong interest from mining companies that wish to develop new local deposits of the battery metal.
According to Bloomberg citing a presentation by the Mining Minister Aurora Williams, the 88 lithium development proposals received by the government came from 54 individual companies and groups. Almost 60 are domiciled in Chile, while the others include 11 from Canadian, four from Australia, three from the US and two from China. The names of those vying for contracts weren’t disclosed.
“The results of this process far exceed our expectations and opens space for the exploration of lithium in places not initially considered,” said Finance Minister Mario Marcel. The strong interest means the country could exceed its goal of three to four new lithium projects in development by the end of 2026.
It also shows that the government’s strategy for boosting production is far from a nationalization, as some had suggested, the minister added.
The majority of Chile’s lithium projects, or 60%, are located within 16 salt flats and over 80% of the proposals considered the use of direct lithium extraction technology, which requires less water use.
Lithium deposits in the country will be divided into three categories: strategic, semi-public and open. Two salt flats are deemed strategic and will be controlled by the state. In two others, state-owned companies will have the flexibility to negotiate terms with private partners. In a third process, private companies may take full control of a mine.
Chile is the world's second-largest lithium producer after Australia.
Theodor Lisovoy, Editor in Chief, Rough&Polished
