Chile 'close' to identifying new areas to unlock lithium riches
The Chilean government is “close” to specifying what salt flats will be protected under its new national lithium strategy, and which will be available for exploitation, Economy Minister Nicolas Grau told investors Thursday.
Authorities will restrict lithium exploration and production on 30% of the surface area of salt flats in the country’s northern desert. That will still leave more than 10 open for development under new contracts, Grau said on a video call.
The minister sees a “high” probability that Chile will issue at least one new contract in the next 12 months, with the government hopeful of having five new projects underway by 2025.
More than 360 people from about 30 countries joined Thursday’s call as companies jostle to negotiate lithium deals in the country with the world’s biggest reserves of the metal that’s a key component in electric-vehicle batteries.
To meet the demand, authorities are well advanced in work to identify new extraction areas and are compiling bidding rules for contracts to explore and possibly mine them under a public-private model. A roadshow was held in Germany and France last month and another is planned for Korea, Japan and China.
Until now, Chilean lithium production has been limited to two companies working a single salt flat, with the nation’s share of the global market slipping in recent years. President Gabriel Boric’s solution is a model that will see the state take a controlling stake in operations considered strategically significant, while allowing private firms to retain control of projects in non-strategic areas.
Chile understands that “the numbers should make sense” for the private sector, with the government taking a flexible approach to defining what constitutes “strategic,” Grau said.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
Complete range of security sealing solutions including security seals bags and labels.
VISIT SHOWROOM
FLANDERS Southern Africa provides integrated solutions for mining and industrial operations, covering field services, automation, electrification,...
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
