Chile’s government has designated six key areas for new lithium extraction projects to be led by private companies, Mining Minister Aurora Williams announced on Thursday.
The government plans to begin consultations with Indigenous communities located near these areas in October, with private firm proposals due by December 31.
As the world’s second-largest producer of lithium, Chile currently relies on two companies operating in the Atacama salt flat. The government aims to expand production by supporting state-owned copper giant Codelco’s efforts while also encouraging private investment in the sector.
Chilean authorities have already received about 20 expressions of interest for the six priority sites, which include five salt flats and one lagoon, all identified as having high potential for lithium extraction.
“We anticipate strong competition, as these are areas of high interest,” Williams said during a press conference.
To secure government approval, private companies must demonstrate expertise in the lithium value chain, possess sufficient financial resources, and hold at least 80% of the mining concessions within the proposed project area.
Finance Minister Mario Marcel emphasized that the selection of these priority sites aligns with Chile’s goal to launch three to four new lithium projects during President Gabriel Boric’s term and increase lithium production by 70% by 2030.
“We are taking all necessary steps to achieve these objectives,” Marcel added.