{"id":37941,"date":"2023-10-05T09:01:33","date_gmt":"2023-10-05T08:01:33","guid":{"rendered":"https:\/\/www.innovationnewsnetwork.com\/?p=37941"},"modified":"2023-10-05T09:01:33","modified_gmt":"2023-10-05T08:01:33","slug":"codelco-and-lithium-power-international-set-to-jointly-mine-for-lithium-in-south-america","status":"publish","type":"post","link":"https:\/\/www.innovationnewsnetwork.com\/codelco-and-lithium-power-international-set-to-jointly-mine-for-lithium-in-south-america\/37941\/","title":{"rendered":"Codelco and Lithium Power International set to jointly mine for lithium in South America"},"content":{"rendered":"

Lithium Power International<\/a> (LPI) has verified that it is in discussions with Chilean state-run copper miner Codelco for a potential collaboration to mine for lithium in South America.<\/h2>\n

In April, Chile announced a new national strategy to exploit lithium in South America by means of public-private partnerships.<\/p>\n

The state will acquire a majority stake in crucial operations, while private firms will continue to keep control of non-critical projects under the new approach.<\/p>\n

Strategic investments in South American lithium projects<\/h3>\n

The negotiation of the government\u2019s interest in Albemarle\u2019s and SQM\u2019s lithium operations in South America, the only two current operational mines in Chile, has been delegated to Codelco.<\/p>\n

In addition to this, Codelco, with state miner Enami, has been entrusted with securing partners for future projects. Eventually, a national lithium company will take over these responsibilities.<\/p>\n

This comes as LPI hit headlines in July by scrapping the demerger of its Western Australian lithium assets in favour of an A$30M sale of three projects to US giant Albemarle Corporation<\/a> (NYSE: ALB).<\/p>\n

The move came as a part of the company\u2019s strategy to focus on its flagship Maricunga lithium brine project<\/a>, the largest permitted brine project in Chile.<\/p>\n

\u201cDespite the significant progress we had made towards an IPO of Western Lithium in the past months, this asset realisation will provide a significant uplift to the pre-money valuation of our Western Australia asset portfolio,\u201d explained Crist\u00f3bal Garc\u00eda-Huidobro, LPI\u2019s Chief Executive.<\/p>\n

Lithium in South America is extremely promising<\/h3>\n

Additionally, Codelco has explored the Maricunga salt flat for several years, up until May 2023, with the company announcing it believes the area has the world\u2019s second-highest lithium concentration.<\/p>\n

\u201cSo far, the numbers show a promising path for our company and especially for lithium in South America,\u201d said M\u00e1ximo Pacheco, President of Codelco\u2019s board of directors.<\/p>\n

\u201cOf 132 samples analysed in the laboratory, which were extracted from ten wells, we have obtained concentrations ranging between 517 and 1,787mg\/l, with an average of 1,073mg\/l and a median of 978 mg\/l.\u201d<\/p>\n

With the world\u2019s most prevalent copper producer having rounded up its work at Maricunga, the doors are now open to interested partners to continue exploration for lithium in South America.<\/p>\n","protected":false},"excerpt":{"rendered":"

Lithium Power International is in discussions with copper miner Codelco for a potential collaboration to mine for lithium in South America.<\/p>\n","protected":false},"author":22,"featured_media":37942,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[24502,23535],"tags":[24206,24209],"acf":[],"yoast_head":"\nCodelco and Lithium Power International set to jointly mine for lithium in South America<\/title>\n<meta name=\"description\" content=\"Lithium Power International is in discussions with copper miner Codelco for a potential collaboration to mine for lithium in South America.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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