Cristobal's recent MSB presentation in Chile (from 13min on). I ran the transcript through a translation program.welcome
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senatorsenators Thank you very much very good good morning everyone good afternoon
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Everyone,let's see, I want to show you
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andI want to talk to you from another spectrum today in Chile we already have two
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producersof we are the country with the largest lithium reserves in the
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worldand we have two producers and we have had two producers for the last 35 yearsthat's kind of what we want
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changeand that is a bit of what we have been working on for more than eight years
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thevalue of the opportunity is tremendously important today in the industry theysaid it they said it in the
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previouspresentation Okay, what we want to do is position the Atacama region for thefirst time in the
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worldmap of lithium white solar mining project and power today is the
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Theonly project in Chile outside of the Atacama site that has an approved RC is
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theyear 2020 What happened by the ministerial committee in the year 2022 and is byfar
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todaythe project with the highest development and we hope to start construction assoon as we close the
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financialstructuring this year already
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Withouta doubt, we are going to become the third actor in the lithium industry after35 years and that is a
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eventthat is very relevant Now there are two important issues How it is done is
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veryimportant and I believe that we have made and established a model that is quite
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differentespecially from the social point of view
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andsustainability in this project both local and indigenous communities
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whoare in the area of influence participate directly in the project haveparticipated from the first day are
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partof the project they are going to have they are going to share part of thebenefits as we are going to see from this project so
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boththe How it is done is very important now what does the first stage mean by the
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maricungaproject today we control about 35% of the exploitable area of the salar demaricunga
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theproject is done in two stages a first stage on our belongings threeseventy-nine That
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Thefirst stage will have an investment of almost 560 billion pesos so that theyhave a
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ideathat means this project that has a construction period of two years willpractically represent the
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40%of the gdp of the atacama region this project will generate more than
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1,200direct jobs just for the project are new jobs, that is, this directly hits the
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Atacamadaunemployment represents almost 10% of unemployment today
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wehave these new relationship standards the communities participate and willparticipate throughout
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theuseful life of this project in the benefits that this project will generate
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andfinally, as I told you, this is the only project outside of the Salar deAtacama that today
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hasan RCA and that has tremendously high sustainability standards is the onlyproject
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Inaddition, it has an indigenous consultation under the agreement of about six
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ninenow the future expansion and me here
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maybeI'm going to disagree a little with my friendly presenters on the sides
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Ihave no doubt that we are all going to use new technologies for the
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futurestages and future projects we managed to make this work
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theyear 2021 there is the photo of the pilot plant that is in Tokyo
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Heis currently traveling to Tiles, he hopes to install this final plant
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ofthe year that in Chile today I continued doing the tests but the problem is notthat the problem of the extraction technology
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directtoday is first that the consumption of fresh water is higher and we
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likeit is not greater between three and eight times we are going to use we aregoing to pump fresh water from the well into the
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salarde maricungunga ten cubic meters for each ton of lithium that we are going toproduce in stage one with the
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directextraction we would need between three and eight times that amount of water andthat is a matter
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Okay,you have to study it second, the higher energy consumption without a place to
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Itcertainly consumes more energy and it is difficult to carry energy, there areno transmission lines and third, the issue of
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reinjectionsounds a lot easier than it is But if I own half of the
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salaryyou are the owners of the other half and I come and reinject you a low lithiumsolution here
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andI dilute their resources the next day the projects will end
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judicializedwe will end up blocked Why Because I am affecting your resource and yourproperty Okay
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Theseare topics that must be seen and we must continue studying the plants work Itis true that they work Now we must
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seehow we make them work in the general system that's a picture all
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thephotos below are real production our last production reached 99.92% purity thepilot plant That is the
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stageone That's all that has been done in this company more than 71 million dollarshave been invested
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todate in these almost eight years is by far how you can see the project
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moreserious and advanced that exists here and without a place if it is going to bebuilt later
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nowsustainability are highly relevant issues we hope to be the first carbonproject
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deaustral in the lithium industry here real stage one has reduced consumption
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ofwater in more than 75% But mainly it is this relationship structure
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thatit has been consistent with these with the sustainable development objectivesof the UN and the criteria of the ifc that
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areused as a benchmark for any financial structuring in mining projects today andthat makes us very
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happyrelationship issue we started working from the first day
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ofthis development with the indigenous communities they have participated inevery decision that has been made
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haveexpressed their opinion have participated in the design of the strategy in thechanges
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theywill receive practically more than 20,000 million
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pesosin present value if we consider it today throughout the useful life of theproject they will decide
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whatto do with it not us okay And this is the key today to be able to
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todo a project before leaving the project we met with them we told them if you donot agree
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agreementwe are not going to develop the project today they are part of the
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projectfeel tremendously proud to be part of this project and finally we can not stoptalking
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ofthe impulse to the regions the projects are in the regions they are inserted inthe regions we have to be
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ableas companies to work very closely with the regions where we are
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Thisproject is not only going to provide resources to the communities and it is notonly going to deliver the resources that I know
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involvingdirect investment the project throughout its useful life will make availablethrough
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thegovernment body that defines more than 20 billion pesos also
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thatdifferent projects in the region are going to be competitive funds, we are
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Workingwith all the educational centers in the region, the University of Atacama todayis not.
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Itdoesn't make sense that I, being in Atacama, have to send a chemical sample tothe university in Antofagasta.
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Why?Because there is no experience in Atacama, we have to create it.
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workingwith the cft with inacap and we really hope
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tobe able to give it a and generate a change in what is the education of ouryoung people
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inthe region and really contribute to the region only to end with
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listingpower and in mineras blanco we have a clear commitment to
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sustainabledevelopment, I want to say that although it still has many details to solve
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Ithink the National Lithium strategy is in a direct line and I say that
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Ithas many details to solve etc. because it is true but at least it is a startingpoint now
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wehave a starting point and on which we can work That is
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importantwe are committed to continue working with the country and with the governmentand administration
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thatexists in the country These are long-term projects but we are committed toChile and we will continue
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Being Thank you very much