SANTIAGO – Chile has identified six additional sites for private companies to extract lithium, bringing the total to 12 priority areas, according to the mining ministry on Thursday.
As the world’s second-largest lithium producer, Chile announced its first set of priority areas for new lithium extraction projects in September.
This move is part of the government’s ongoing efforts to boost lithium production, a crucial component for rechargeable batteries, by encouraging private sector investment alongside initiatives from state-run copper giant, Codelco.
The newly designated six zones are considered highly promising for lithium and other mineral exploration and extraction projects. These areas are located primarily in the northern Antofagasta and Tarapacá regions of Chile.
The projects in these zones may involve polymetallic mining, lithium extraction from clay deposits, and the development of geothermal resources, the ministry explained in a statement.
Private companies interested in these opportunities must submit proposals by January 31, an extension from the original December 31 deadline for the first group of lithium deposits.
To qualify for government approval, companies must demonstrate experience in the lithium value chain, have sufficient financial backing, and control at least 80% of the mining concessions in the proposed project area.
An exception to this process applies to the Cerro Pabellón site in Antofagasta, where a geothermal energy project is also planned.
