LPI 0.00% 56.5¢ lithium power international limited

So here is what I have learned. SEC link about 1979 law Decree...

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    So here is what I have learned. SEC link about 1979 law
    Decree Law No. 2,886, published on November 14, 1979 and effective January 1, 1979, reserved lithium extraction for the State of Chile. However, the concessions held by Albemarle, for the purposes of producing lithium from the Salar de Atacama were registered in 1977 and therefore are exempt from this law. Nonetheless, under Law No 16,319, establishing the CCHEN, lithium can only be mined by CCHEN or with prior authorization from CCHEN. Under this law, producers of lithium are subject to a production quota that caps total production from the concessions and Albemarle is subject to such a CCHEN production quota. CCHEN also limits the extraction rate of brine from the Salar de Atacama.
    Mining concessions prior to 1979 can be used for lithium as long as the CCHEN is doing it or gives prior authorization. This allows Albemarle to use its concessions, obtained in 1979, for mining lithium after 1979. This sets the standard for the law related to pre 1979 (old code) concessions and the role of the CCHEN in giving authorization.

    So in March 2018 LPI gets prior authorization from CCHEN to mine lithium as long as they submitted the Environment application (EIA) within 4 years. The EIA was obtained in ~2019. Therefore the CCHEN prior authorization is active and valid for the old code concessions owned by Minera Salar Blanco (MSB). Also in march 2018 the Ministry of Mining awarded CODELCO CEOL to mine lithium in all of maricunga, but these CEOL's are only applicable to new mining codes which are those after 1979. Therefore the CODELCO maricunga CEOL's are only applicable to MSB's new code properties and can only be used at these new code mining concessions.
    LINK
    By May 2018 MSB was involved in a lawsuit to legally challenging the CEOL award to codelco in maricunga.
    LINK

    By mid 2019 MSB signed a non-binding MOU with CODELCO to co-devleop the new-code concessions in maricunga whereby MSB will contribute the new code properties and CODELCO will contribute the CEOL's that cover these properties.

    And here we are now with the ministry of mining accepting for processing a request to extend the CEOL awarded to CODELCO to invalidate the pre 1979 old code concessions. This seems like over reach and would have implications for the concessions currently in use by SQM/Albemarle/ect and which have been in use since like 1977. Also it seems like this comes after the same request was made unsuccessfully by CODELCO two previous times in the previous government. The previous government that set up this problem seemed to settle it by acknowledging that the CEOL's only work with the new code concessions, therefore the actions by that government had the affect of facilitation of a joint project between MSB and codelco. this transpired within one year in 2019 with the non-binding MOU between Codelco and MSB. Now the current government has the chance to uphold the previous actions and prior laws. I think that this is the most likely scenario to play out. Albeit it is a bit concerning that the request has been accepted for review/processing.

 
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