Chile Unveils Increased Lithium Resources: A Major Boost for Future Production

New studies show that Chile’s lithium resources are 28% greater than earlier estimates, with significant finds in the La Isla and Aguilar salt flats. The total lithium resource is now approximately 14 million tons, positioning Chile as a leader in global lithium reserves. ENAMI is set to select a partner for the Salares Altoandinos project, aiming to bolster national production.

Recent studies indicate that Chile possesses 28% more lithium resources than prior assessments suggested. Specifically, investigations into the salt flats in the Antofagasta region reveal that the La Isla salt flat contains approximately 2.13 million metric tons of lithium, reflecting a 150% increase from earlier estimates. The Aguilar salt flat contributes nearly 1 million tons, marking a 40% rise, as reported by Chile’s state mining body, ENAMI.

Altogether, these findings augment Chile’s lithium resources by an additional 3.05 million tons, bringing the total to 14 million tons, an increase from the United States Geological Survey’s earlier estimate of 11 million tons. It is important to distinguish between resources, which indicate the size of a mineral deposit, and reserves, which denote the economically viable quantities for mining.

According to the USGS, Chile ranks as the third-largest holder of lithium resources globally, following Bolivia and Argentina, and maintains the status of the leading holder of lithium reserves at 9.3 million tons. Additionally, it stands as the second-largest global producer of lithium, largely attributed to the Atacama salt flat, which serves the operational needs of SQM and Albemarle.

In May, ENAMI is poised to select a partner for joint mining endeavors at the two studied salt flats within the Salares Altoandinos project, which represents a significant step in state-led lithium production efforts. Given the competitive landscape, ENAMI has received proposals from several major players, including Chinese firm BYD and mining companies like Eramet, Posco, and Rio Tinto, alongside financing bids from CNGR Advanced Material and LG Energy.

The fresh data derived from external consultants further underscores the potential of these resources, validating ENAMI’s strategic initiative. Ivan Mlynarz, ENAMI’s head, commented, “This confirms that Salares Altoandinos is a world-class project.”

In summary, recent studies reveal that Chile’s lithium resources have increased by 28%, with significant finds in the La Isla and Aguilar salt flats. This enhancement raises Chile’s total lithium resources significantly, reinforcing its position as a major player in the global lithium market. The upcoming Salares Altoandinos project reflects Chile’s commitment to advancing its lithium production efforts, with various proposals being evaluated for potential partnerships.

Original Source: www.mining.com