Enami (ENAMI) is evaluating six potential partners for a public-private partnership (PPP) on the US$1.5 billion Salares Altoandinos lithium project in Chile’s Atacama region. The PPP will be established in March 2025. The shortlisted candidates include Chinese firms BYD Chile and CNGR Advanced Material, South Korea’s LG Energy Solution and Posco, France’s Eramet, and local Rio Tinto unit, Rio Tinto Mining and Exploration.

Initially, Enami received 12 expressions of interest from global companies to develop, operate, and finance the project. Salares Altoandinos spans the Aguilar, Isla, and Grande salt flats, aiming to produce a significant amount of lithium carbonate equivalent. Exploration activities are slated to resume in September to refine resource estimates. Concurrently, an indigenous consultation process is underway to obtain a special lithium operation contract (Ceol) from the mining ministry.

Enami’s Financial Challenges and Future Prospects

Enami faces financial challenges, having reported a loss of US$54.4 million in the first half of the year. This represents an improvement from a US$109 million loss a year ago. The operational stabilization plan includes measures like the temporary shutdown of the Hernán Videla Lira smelter due to environmental issues.

The chosen partner will be crucial for financing, enabling Enami to promote small and medium-sized mining. The executive VP, Iván Mlynarz, expressed optimism for better future results and enhanced access to financial systems.

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