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Atacama Salt Flat Lithium Officially ‘in Hands’ of Codelco: Mining Company Negotiates Upcoming Contracts



Corfo’s executive vice president handed over to Codelco’s president a document formalizing the public company’s role as country representative in defining future contracts with interested companies.

Corfo reported that it was announced by the president in April to implement a national lithium strategy. Gabriel Borich- today i met Codelco Formally authorizing the start of the process will allow the state to be directly integrated into the lithium production business. Atacama Shiobara .

Specifically, the Corporation entrusted the State Mining Company, a “public company with many years of experience and proven capabilities”, with the responsibility of finding “the best way to achieve its objectives.”

Corfo, as owner of its salt flats mine properties and responsible for enabling business development in the salt flats of maximum benefit to the country, will, by letter, establish the basic terms of future lease agreements. bottom. Corresponding administrative and regulatory approvals.

Corfo Executive Vice President José Miguel Benavente said that “existing agreements” with both companies will be fully respected. Ownership of the mining assets will remain in Corfo’s hands and will be available through a lease agreement.

In Benavente’s opinion, the start of this negotiation process with companies based in Shiobara and third parties “is an opportunity to achieve the objectives set out by President Boric regarding the country’s participation in lithium development before the deadline.” Current Lease Date”.

To this end, “Codelco, as a publicly traded company with long experience and proven capabilities, is on a mission to find the best way to achieve this objective,” he added.

Meanwhile, the copper company’s board chairman Máximo Pacheco said Codelco will start talks to form a public-private partnership that would give continuity of production activities on the Atacama salt flats beyond 2030. As a Chilean state-owned company, it acts as the controller of the companies established for these purposes.

“Today, the actions initiated by the Board of Directors have materialized because mining lithium in the Atacama Salt Lake is a strategic and favorable business for the Company and its shareholder, the State of Chile. We will strengthen our position at the global level as producers of two of the minerals important for the energy transition,” commented Pacheco.

lease terms

The basic conditions that Corfo will establish for future leases of its properties refer to the maintenance of national interests, environmental concerns, community and territorial relations, funding of research and development activities, and scientific cooperation. For companies adding value in Chile:

– Maintain the benefits the country has received so far through rental income received by Corfo and other donations that SQM has been working with the local government, municipalities and indigenous communities around Tu Solt.

– application of clauses enabling funding of research and development activities within the country, especially in areas where lithium is mined, with a view to developing knowledge, technology and capacity to facilitate progress in sustainable economic and social development; maintain and improve

-Maintain and renew the provision allowing for the sale of a percentage of lithium products at preferential prices to companies that offer to develop value-added production activities in Chile.

– Update and strengthen environmental commitments in accordance with the laws and regulations in force in the country and the international standards defined as the framework for implementing the National Lithium Strategy, aiming for sustainable operations in the country. long term.

– Commit to the technical analysis and subsequent implementation of new lithium extraction technologies and, in general, the implementation of production processes that ensure consideration of the environment, especially hydrogeological, water and energy issues. This also contributes to any improvements possible. Living conditions in the communities around the Atacama salt flats, and in the Antofagasta region in general.

– Commit to and implement the highest standards of lasting, transparent and participatory relationships with indigenous communities around Lake Atacama.

– Engage in and develop science and technology cooperation activities and knowledge transfer.

*Source: Corfo.

Source: Biobiochile

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