article outCodelco is in early-stage talks with prospective...

article out

Codelco is in early-stage talks with prospective partners for a lithium project in northern Chile as the country with the biggest reserves of the battery metal strives to boost output.

As it wraps up an exploration program this year at the Maricunga salt flat, Codelco has been contacted by several companies, Chairman Maximo Pacheco said in an interview from the state-owned copper giant’s Santiago offices.

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“We are having those discussions in a very constructive way,” he said, without giving any detail on the companies showing interest.

Pacheco spoke ahead of Friday’s announcement of the government’s long-awaited lithium development strategy, in which companies will partner with the state in new projects. Until a national lithium company is established though, Codelco will represent the state, Mining Minister Marcela Hernando said Monday. Pacheco declined to comment on that, saying only that Codelco would support the new strategy.

“We have a very robust project portfolio and we have huge business opportunities in copper and in lithium,” he said. “We will take advantage of those.”