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Rio Tinto and Eramet Eligible for Lithium Project in Chile
Rio Tinto (RIO) and Eramet (ERA), along with key industry players, are eligible to develop a lithium project in Chile’s Altoandinos region. The state-run mining company, Enami, has announced that these companies meet the requirements to participate in negotiations.
Altoandinos Salt Flats Initiative
The Altoandinos salt flats, located in northern Chile, are a focal point for the country’s initiative to increase lithium production. This initiative is part of Chile’s broader strategy to boost local production by 70% within the next decade.
Next Steps in the Project
Enami is actively seeking a partner for the Altoandinos lithium project. Initially, twelve companies expressed interest, but only six met Enami’s high standards. The aim is to establish a public-private partnership by March 2025, focusing on financial backing or operational support.
The Salares Altoandinos Project
This project comprises around 100 square miles in the Atacama region, divided into three undeveloped salt flats. Government estimates project production at 20,000 metric tons by 2032, with a goal to triple output by 2037.
Recent Developments
In June, Enami shared results from a drilling campaign worth $10.5 million. Samples from Aguilar flat indicated an average lithium concentration of 740 milligrams per liter.
CNGR and POSCO Join the Roster
CNGR Advanced Material Co. Ltd from China and South Korea’s POSCO Holdings Inc. are also part of the six chosen companies. This selection marks a significant step in realizing Chile’s national lithium strategy.
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