Chile Charges Ahead with Trailblazing Lithium Investment Plan to Shape the Future
Chile Charges Ahead with Trailblazing Lithium Investment Plan to Shape the Future

Chile Charges Ahead with Trailblazing Lithium Investment Plan to Shape the Future

  • 20-Apr-2023 1:00 PM
  • Journalist: Nicholas Seifield

Chile: Chile's highly anticipated Lithium strategy is finally set to be revealed in April, as the government aims to attract significant investment in the latter half of the decade. The Lithium business is just one aspect of the proposal and will require a qualified quorum bill, which may extend the timeline.

A key objective of the plan is to promote decentralization, ensuring that other nations are aware of the available opportunities in the metal's geopolitical significance. Presently, Albemarle Corporation and SQM are the only companies extracting Lithium from Chile despite having the world's largest reserves. The economy minister estimates a break-even price close to $20,000 per tonne of Lithium based on the existing fluctuations in price, but a lot remains uncertain.

North America is rapidly shifting away from its reliance on Australia and Chile for Lithium supply. Instead, the continent is aspiring for energy independence by bolstering its domestic production capabilities. Nevada, an already top mining jurisdiction, is making significant strides in the manufacture of EV battery materials and reaching global climate targets. The completion of the Thacker Pass Lithium Project, which is currently the largest Lithium deposit in the US, is positioning Nevada as the "Silicon Valley of Lithium".

Thacker Pass has announced its plan to produce an annual capacity of 80,000 tonnes of battery-grade Lithium Carbonate, a move that would lessen the United States reliance on foreign Lithium supplies. Furthermore, the project's approval implies that Nevada's Lithium industry is now available for investment. However, Thacker Pass and Albemarle's Silver Peak mine are just a portion of Nevada's Lithium narrative.

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