Chile doubles number of lithium sites open to investment
SANTIAGO - Chile has designated six more sites where private companies are eligible to extract lithium, adding to six previously announced, the mining ministry said on Thursday.
Chile, the world's No. 2 lithium producer, in September announced the first batch of priority areas for new lithium extraction projects to be led by private companies.
Chile's government has been working to boost production of lithium, a key battery metal, by encouraging private investment as well as its own efforts via state-run copper giant Codelco.
The additional six zones are "composed of deposits of great interest for the development of lithium and other mineral exploration and exploitation projects," the ministry said in a statement.
"Some of these projects will allow the development of polymetallic mining, lithium extraction projects contained in clay, geothermal resources, among others."
They are located mostly in the Antogafasta, region, as well as the Tarapaca region, both in the north of Chile.
The deadline for companies to submit proposals is January 31 for all 12 areas, the ministry said. The date represents an extension from the original Dec. 31 deadline for the first group of lithium deposits.
To win government approval, private companies must have experience in the lithium value chain, adequate financial resources, and hold at least 80% of the mining concessions in the proposed project area.
There will be a different procedure only for Cerro Pabellon in Antogafasta, due to a geothermal energy project at the site, the ministry said.
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