54 companies have submitted their interests to invest in Chile lithium projects

Interest

Chile, renowned as the world’s largest copper producer, is now making significant strides in the lithium industry. 54 companies have shown keen interest in developing lithium projects in Chile, following the government’s call for proposals across a variety of salt flats rich in this crucial battery metal.

Highlights

• Finance Minister Mario Marcel announced that 54 firms from 10 countries have submitted their interest to develop 88 lithium projects. This robust response underscores the global eagerness to invest in Chile’s burgeoning lithium sector.
• The interest comes from a mix of local and international investors of varying sizes, demonstrating widespread confidence in Chile’s potential as a lithium powerhouse. Minister Mario Marcel stated: „There are investors of different sizes … there are local investors and many foreign investors”
• Chile’s government is focusing on state-led initiatives while encouraging private investment, reserving the key Atacama and Maricunga brine deposits for state control.
• The mining ministry will address overlapping proposals and may initiate tender processes for sites with multiple interests, ensuring a transparent and competitive allocation of resources.
• The US ambassador to Chile Bernadette Meehan has stated that US companies have shown „intense interest” in both lithium extraction and the production of lithium-based components, reinforcing the global strategic importance of Chile’s lithium reserves.
• Presently, only Albemarle and local firm SQM produce lithium in Chile. Recently, SQM partnered with state-run Codelco to form a joint venture in the Atacama salt flat. Codelco is also seeking partners for a significant new project in the Maricunga salt flat.
  
  Chile’s proactive approach to developing its lithium industry, alongside robust private and international interest, positions it as a pivotal player in the global energy transition.