Chile Aims for Expansion in Lithium Industry by 2026
Santiago’s Ambitious Lithium Plans
Chile’s Minister of Finance Mario Marcel is pushing for three or four new lithium projects to be up and running by 2026 in a bid to solidify the country’s position as a key player in the lithium market.
Policy Shift in South America’s Largest Lithium Producer
As the world’s largest producer and the second-largest supplier of lithium, Chile unveiled a new policy last year to increase state control over this crucial metal, essential for electric vehicle batteries.
Strategic Talks with US Treasury Secretary
Marcel’s announcement came after a meeting with U.S. Treasury Secretary Janet Yellen, who is on a diplomatic tour in the country, discussing potential collaborations in the energy sector.
Building Stronger US-Chile Lithium Relations
Yellen’s visit to U.S. lithium giant Albemarle in Chile emphasized the importance of strong U.S.-Chile ties and how enhancing these relations could bolster energy security and support vital climate initiatives.
Plans for Lithium Industry Expansion
Chile currently relies on just two major lithium producers – Albemarle and SQM – as it looks to the future, eagerly awaiting President Gabriel Boric’s strategic direction for public-private partnerships to develop the country’s lithium reserves.
Government’s Push for Lithium Exploration
Chile’s mining minister recently announced plans to finalize lithium exploration tenders this year, inviting private companies to participate in the growing lithium sector.
New Public-Private Model for Lithium Industry
State-owned Codelco has been chosen to represent Chile in the evolving lithium landscape, as the government under Boric’s leadership aims to ramp up the industry’s growth and global competitiveness.
