Chile shortlists six potential partners for Altoandinos lithium project

Chilean state-run miner Enami has posted its short list of potential partners to develop the Altoandinos lithium project that includes miners Rio Tinto (NYSE: RIO; LSE: RIO; ASX: RIO) and Paris-based Eramet (EPA: ERA); Chinese EV-maker BYD; and South Korean battery maker LG Energy.

Enami released the list of six companies, including CNGR Advanced Material Co. (China) and POSCO Holdings (South Korea), eligible to proceed with proposals to develop the project on Thursday, Reuters reported.

The companies met the eligibility requirements to participate in the process by which Enami intends to choose a partner in development, it said.

The salt flats in the northern region of Atacama are one of the areas where the Chilean government aims to boost lithium production in partnership with the state by initiating new projects.

The government’s goal is to increase local production of the battery metal by 70% within a decade, with three or four new projects under development by 2026.

ENAMI launched its search in May, seeking a partner to offer either financial backing or operational support in Altoandinos, for an ownership stake that has yet to be determined.

Twelve companies initially expressed interest, Reuters resported.

Enami says it aims to formalize a public-private partnership by March 2025.

“We are moving forward with concrete actions for the National Lithium Strategy, with this announcement of the companies that meet the high selection standards,” Enami chief Ivan Mlynarz said in a statement.

Salares Altoandinos

The Salares Altoandinos project spans about 260 sq. km in the Atacama region. Comprised of three undeveloped salt flats, the project could produce 20,000 tonnes of lithium by 2032 and triple that by 2037, according to government estimates.

In June, Enami released the first results from a $10.5-million drilling campaign, with brine samples at the Aguilar flat showing an average concentration of 740 mg of lithium per litre. It said Thursday that it expects exploration to resume in September in order to better define resources.