Chile unveiled plans to auction concessions for 26 lithium salt flats to speed up development of the sector with private investment as it withholds the two richest resources for state companies to develop, Mining Minister Aurora Williams said on Wednesday.
The government will offer the salt flats in April, a process that likely will lead to the awarding of concessions in the first half of 2025, she said on Tele13 Radio.
The auction excludes the Atacama and Maricunga salt flats, which will be developed by state companies Codelco and Enami.
Williams and other government officials announced the start of the process in a press conference on Tuesday, saying that private companies can lead the projects or seek partnerships with Codelco and Enami.
At the announcement, Chilean Foreign Minister Alberto van Klaveren said leaders from around the world have expressed interest in Chilean’s lithium reserves.
“The important thing is to attract investments, both for the exploitation of this resource and for adding value,” he said. “This is a central theme in the country’s entire export strategy.”
The launch of the auction comes as Codelco, the state copper miner, seeks a partner to develop a lithium project in Maricunga that it recently obtained through the acquisition of Australia’s Lithium Power International.
Chile is part of the so-called lithium triangle with Argentina and Bolivia, a region that holds an estimated 60% of the silvery white metal’s reserves, according to the US Geological Survey. Lithium is the critical ingredient for batteries, whether to power cars and machinery or store power produced by solar and wind plants.