...interview with the Coldelco boss:
https://www.latercera.com/pulso/noticia/maximo-pacheco-nuestro-aporte-al-fisco-este-ano-va-a-caer-pero-no-perdamos-las-proporciones-es-una-empresa-que-genera-us17-millones-al-dia-al-pais/QYEOKNK4OFDF7MRQ4EDHRPAYEY/?outputType=ampYears ago, did Codelco underestimate the weight that lithium could have, without having developed its projects?I am very proud and I feel very proud of the things we have done as a board of directors in these months. We have managed to get the State of Chile to define a reinvestment policy of 30% of profits so that it can develop projects. We have agreed to cease operations at Ventanas, with an environmental policy. We have managed to approve the construction of a desalination plant. And, in addition, now we have achieved that, after three years in which we had a definition pending in the Ministry of Mining regarding the CEOL (Special Contract for Lithium Operation) of the Maricunga salt flat, the government declares that it accepts our requests for processing. These things do not depend only on Codelco.
But Codelco has had that CEOL since 2018. Four years have passed and they are still exploring. Didn't Codelco have a sense of urgency on the issue of lithium?Codelco, in order to resolve the issue of lithium, needs many things. It effectively needs exploration to confirm that the reserves are of the necessary magnitude and characteristics, to decide what technology we are going to use and we also need to solve administrative problems such as the one I have just mentioned.
Doesn't requesting that Codelco's rights in Maricunga be extended to the entire salar affect the rights of other companies?I imagine so, but here the only thing the Minister of Mining has done is accept the request for processing. Therefore, as the undersecretary himself declared, they are going to listen to all parties so that the Ministry of Mining finally makes a decision.Is this a sign that Codelco wants to enter the lithium market with force?We have always pointed out that we have significant lithium reserves. We have always indicated that we will define all the projects that are of interest when appropriate. This is a project that, when we are ready, due to the results of our explorations, due to the result of our technological work, due to our work on the business case and, finally, to resolve the administrative issues, we are going to make a decision. And that in this the country is not mistaken. This is the most important company in Chile, the best business in Chile. And we are going to take care of it.
