General LPI Discussion, page-183

Cristobal's recent MSB presentation in Chile (from 13min on). I ran the transcript through a translation program.

welcome

1:17p.m.

senatorsenators Thank you very much very good good morning everyone good afternoon

13:22

Everyone,let's see, I want to show you

13:31

andI want to talk to you from another spectrum today in Chile we already have two

13:38

producersof we are the country with the largest lithium reserves in the

13:43

worldand we have two producers and we have had two producers for the last 35 yearsthat's kind of what we want

13:51

changeand that is a bit of what we have been working on for more than eight years

13:57

thevalue of the opportunity is tremendously important today in the industry theysaid it they said it in the

2:03p.m.

previouspresentation Okay, what we want to do is position the Atacama region for thefirst time in the

2:11p.m.

worldmap of lithium white solar mining project and power today is the

2:17p.m.

Theonly project in Chile outside of the Atacama site that has an approved RC is

2:22p.m.

theyear 2020 What happened by the ministerial committee in the year 2022 and is byfar

2:27p.m.

todaythe project with the highest development and we hope to start construction assoon as we close the

2:33p.m.

financialstructuring this year already

2:38p.m.

Withouta doubt, we are going to become the third actor in the lithium industry after35 years and that is a

2:44p.m.

eventthat is very relevant Now there are two important issues How it is done is

2:51p.m.

veryimportant and I believe that we have made and established a model that is quite

2:57p.m.

differentespecially from the social point of view

15:04

andsustainability in this project both local and indigenous communities

15:11

whoare in the area of influence participate directly in the project haveparticipated from the first day are

15:17

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

15:23

boththe How it is done is very important now what does the first stage mean by the

15:31

maricungaproject today we control about 35% of the exploitable area of the salar demaricunga

15:38

theproject is done in two stages a first stage on our belongings threeseventy-nine That

3:45p.m.

Thefirst stage will have an investment of almost 560 billion pesos so that theyhave a

15:52

ideathat means this project that has a construction period of two years willpractically represent the

4:00p.m.

40%of the gdp of the atacama region this project will generate more than

16:07

1,200direct jobs just for the project are new jobs, that is, this directly hits the

4:15p.m.

Atacamadaunemployment represents almost 10% of unemployment today

4:20p.m.

wehave these new relationship standards the communities participate and willparticipate throughout

16:27

theuseful life of this project in the benefits that this project will generate

4:32p.m.

andfinally, as I told you, this is the only project outside of the Salar deAtacama that today

4:38p.m.

hasan RCA and that has tremendously high sustainability standards is the onlyproject

4:46p.m.

Inaddition, it has an indigenous consultation under the agreement of about six

16:53

ninenow the future expansion and me here

16:58

maybeI'm going to disagree a little with my friendly presenters on the sides

17:05

Ihave no doubt that we are all going to use new technologies for the

17:10

futurestages and future projects we managed to make this work

17:17

theyear 2021 there is the photo of the pilot plant that is in Tokyo

17:22

Heis currently traveling to Tiles, he hopes to install this final plant

17:27

ofthe year that in Chile today I continued doing the tests but the problem is notthat the problem of the extraction technology

17:33

directtoday is first that the consumption of fresh water is higher and we

17:41

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

17:47

salarde maricungunga ten cubic meters for each ton of lithium that we are going toproduce in stage one with the

17:54

directextraction we would need between three and eight times that amount of water andthat is a matter

18:00

Okay,you have to study it second, the higher energy consumption without a place to

18:06

Itcertainly consumes more energy and it is difficult to carry energy, there areno transmission lines and third, the issue of

18:13

reinjectionsounds a lot easier than it is But if I own half of the

18:20

salaryyou are the owners of the other half and I come and reinject you a low lithiumsolution here

18:29

andI dilute their resources the next day the projects will end

18:34

judicializedwe will end up blocked Why Because I am affecting your resource and yourproperty Okay

18:41

Theseare topics that must be seen and we must continue studying the plants work Itis true that they work Now we must

18:48

seehow we make them work in the general system that's a picture all

18:54

thephotos below are real production our last production reached 99.92% purity thepilot plant That is the

19:03

stageone That's all that has been done in this company more than 71 million dollarshave been invested

19:08

todate in these almost eight years is by far how you can see the project

7:15p.m.

moreserious and advanced that exists here and without a place if it is going to bebuilt later

19:22

nowsustainability are highly relevant issues we hope to be the first carbonproject

19:29

deaustral in the lithium industry here real stage one has reduced consumption

7:35p.m.

ofwater in more than 75% But mainly it is this relationship structure

7:45p.m.

thatit has been consistent with these with the sustainable development objectivesof the UN and the criteria of the ifc that

19:54

areused as a benchmark for any financial structuring in mining projects today andthat makes us very

20:01

happyrelationship issue we started working from the first day

20:07

ofthis development with the indigenous communities they have participated inevery decision that has been made

20:13

haveexpressed their opinion have participated in the design of the strategy in thechanges

20:18

theywill receive practically more than 20,000 million

20:25

pesosin present value if we consider it today throughout the useful life of theproject they will decide

20:30

whatto do with it not us okay And this is the key today to be able to

20:36

todo a project before leaving the project we met with them we told them if you donot agree

20:43

agreementwe are not going to develop the project today they are part of the

20:48

projectfeel tremendously proud to be part of this project and finally we can not stoptalking

20:56

ofthe impulse to the regions the projects are in the regions they are inserted inthe regions we have to be

21:03

ableas companies to work very closely with the regions where we are

21:09

Thisproject is not only going to provide resources to the communities and it is notonly going to deliver the resources that I know

9:15p.m.

involvingdirect investment the project throughout its useful life will make availablethrough

21:23

thegovernment body that defines more than 20 billion pesos also

9:30p.m.

thatdifferent projects in the region are going to be competitive funds, we are

21:36

Workingwith all the educational centers in the region, the University of Atacama todayis not.

21:42

Itdoesn't make sense that I, being in Atacama, have to send a chemical sample tothe university in Antofagasta.

21:49

Why?Because there is no experience in Atacama, we have to create it.

21:54

workingwith the cft with inacap and we really hope

21:59

tobe able to give it a and generate a change in what is the education of ouryoung people

22:06

inthe region and really contribute to the region only to end with

22:13

listingpower and in mineras blanco we have a clear commitment to

22:19

sustainabledevelopment, I want to say that although it still has many details to solve

22:28

Ithink the National Lithium strategy is in a direct line and I say that

22:33

Ithas many details to solve etc. because it is true but at least it is a startingpoint now

22:39

wehave a starting point and on which we can work That is

22:45

importantwe are committed to continue working with the country and with the governmentand administration

22:53

thatexists in the country These are long-term projects but we are committed toChile and we will continue

22:59

Being Thank you very much