Chile’s state-owned company Codelco, the world’s leading copper producer, plans to begin the process of finding lithium in the country’s Marikunga salt pans in the first quarter of the year. The exploration is part of an effort to develop the basic material for electric vehicle batteries.
Codelco said the process would include examining groundwater conditions and the lithium concentration in seawater brine, which will determine how the project progresses. “We expect to be able to start exploration activities at the Salar de Maricunga within the first quarter of 2022, which will last 10 months, although it may be delayed depending on weather conditions next winter,” the company said.
This project, Codelco’s first in terms of lithium, could stimulate the industry in the Andean country, which has the largest reserves of light metal in the world, in the long run. The price of lithium has skyrocketed due to growing demand for electric cars.
“This will be the first exploration campaign,” Codelco added. “It will then be decided to carry out more studies and a possible future exploitation project.”
Chile is currently conducting an auction process for the award of operating contracts for the exploration and production of 400,000 tonnes of lithium.
President-elect Gabriel Boric, who takes office in March, has said he wants to set up a state-owned lithium company to exploit the country’s metal deposits.
