Rio Tinto (RIO.L), Eramet (ERMT.PA), and LG Energy (373220.KS) are part of a group of 30 companies that have submitted proposals to advance lithium extraction technology for a Chilean salt flat in the early stages of exploration, as announced by the state-run mining entity ENAMI.
Chile aims to harness the potential of the salt flat, known as Salares Altoandinos, for lithium mining. The bidding companies have been tasked with outlining comprehensive plans to conduct testing on the brine deposits of the salt flats, detailing potential processes for achieving battery-grade lithium, and presenting plans for evaluating the environmental impact of brine reinjection.
ENAMI articulated that the primary objective is to gain insights into the latest advancements in technological processes for lithium extraction being developed globally.
Rio Tinto, the world’s largest iron ore producer, has made significant investments in lithium and is currently engaged in a project in Argentina, where it anticipates commencing production by the end of the year. Similarly, France’s Eramet is actively pursuing a lithium project in Argentina, with production slated to commence this year, and has recently acquired salt flats in Chile, where it is pursuing exploration and mining rights.
In a bid to enhance the state’s role in the lithium industry, President Gabriel Boric unveiled a policy last year aimed at boosting state involvement in Chile’s lithium sector, which boasts the world’s largest reserves of the metal. Additionally, Boric announced an ambitious plan to phase out conventional evaporation ponds and mandate the use of direct lithium extraction (DLE) technology, despite its unproven status.