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Codelco Seeks Approvals to Explore for Lithium at Maricunga-The 21st China(Guangzhou) Die-casting, Foundry & Industry Furnace Exhibition
3/3/2020 压铸展-铸造展- Die-casting expo-foundry expo |
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Chile state miner Codelco filed with regulators a plan to begin exploration for lithium in its Maricunga salt flat holdings. The proposal, if approved, would allow Codelco to pinpoint concentrations of lithium on the flat, estimate the size of the resource and identify necessary next steps. The state-owned miner hopes to explore for as many as 10 months. Codelco has for years talked of getting into the lithium business. But the cash-strapped miner has repeatedly delayed plans to develop its reserves to concentrate on copper, its primary business.
Codelco announced in 2019 a non-binding agreement with miner Salar Blanco to explore a joint venture at Maricunga. Salar Blanco is 50% owned by Australia’s Lithium Power International , with smaller stakes held by Canada’s Bearing Lithium and local capital. The two miners have yet to announce a firm deal. Top Chilean lithium miner SQM, the world’s No. 2 producer of the metal, also has holdings at Maricunga. Chile’s mining ministry in November asked SQM to decide what it will do with its holdings in order to help expedite development. SQM has yet to make public a decision.
Maricunga’s 90 square miles make it less than 5% of the size of the vast lithium-rich Salar de Atacama in northern Chile. But high-grade deposits of the ultralight metal in some parts of the flat make it attractive to several prospective miners, although fractured ownership has long slowed development.
Demand for lithium is widely expected to skyrocket by 2025, but short-term oversupply has recently prompted several miners to delay major projects. Chile possesses the world’s largest reserves of lithium, a key ingredient in batteries for electric vehicles. But the nation’s output has barely budged in recent years, as bureaucratic and environmental hurtles have long stymied development outside of the Atacama flat.
压铸展-铸造展-2020第二十一届广州国际压铸、铸造及工业炉展览会-中国最受关注的压铸铸造展会-巨浪展览
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