Chile Announces Six New Areas for Lithium

---

Written by Amir Richani for Industrial Info Resources (Sugar Land, Texas)--The Chilean Ministry of Mines has opened six new lithium exploration and production areas as part of its national lithium strategy. This doubles the number of regions opened for lithium investments following the first batch announced in September.

Companies will have until January 31, 2025, to submit proposals for lithium exploration and production in those zones. The government will launch public tenders for these territories next year following the consent of Indigenous people and locals near the lithium deposits.

Lithium miners interested in receiving a Contract for Lithium Operations (CEOL) in these areas will require experience in mining or a background in any part of the lithium supply chain, financial capabilities to develop the project and hold a minimum of 80% of the concessions in the area.

The six new lithium zones encompass Hilaricos and Quillagua Norte in the Tarapaca and Antofagasta regions, as well as the Quillagua Este, Quillagua Sur, Maria Elena Este, and Cerro Pabellon also in the Antofogasta region. All the areas are in the north of Chile.

"The strategy advances by providing certainties. We prioritize these six deposits, which are added to the six saline systems announced in September, to quickly take advantage of the economic benefits and opportunities that lithium opens: employment, supplier development, innovation, and technology. For this, we developed a strategy that is flexible, that takes into account environmental protection and private interests," said the Minister Of Economy, Development and Tourism Nicolas Grau.

The Ministry of Mines also stated that they are reviewing more than 80 expressions of interest it received for developing Chile's lithium resources.

The South American nation is the world's second-largest lithium producer after Australia, and it contains the third-highest lithium resources worldwide with 11 million tons, according to the United States Geological Survey (USGS).

The current government of Gabriel Boric announced the national lithium strategy in 2023, which promoted the creation of state lithium companies and the development of lithium areas. The national companies have the right to operate in specific areas of the country, while 12 other zones have been opened for private development.

Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 trillion (USD).