Chile’s Lithium Resources Surpass Previous Estimates by 28%
New studies reveal that Chile’s lithium resources are 28% higher than earlier estimates, with significant increases found in the La Isla and Aguilar salt flats. Together, these additions total 3.05 million tons, enhancing Chile’s position as the leading holder of lithium reserves globally. ENAMI is preparing to select a partner to develop these resources for mining as part of the Salares Altoandinos project.
Recent studies indicate that Chile possesses 28% more lithium than previously estimated, with the exploration of salt flats in the Antofagasta region revealing significantly higher amounts of this critical battery metal, as reported by the state mining body ENAMI. The La Isla salt flat is now estimated to contain 2.13 million metric tons of lithium, reflecting a notable increase of 150% from earlier assessments, while the Aguilar salt flat boasts just under 1 million tons, marking a 40% rise.
Together, these discoveries contribute an additional 3.05 million tons of lithium to Chile’s total resources, which were earlier approximated by the US Geological Survey at 11 million tons. It is important to distinguish between resources, which refer to the total size of mineral deposits, and reserves, which indicate amounts that can be realistically mined.
Chile ranks as the world’s third-largest holder of lithium resources, following Bolivia and Argentina, but holds the top position in terms of lithium reserves with 9.3 million tons. Moreover, the country is the second-largest lithium producer globally, with significant contributions from its Atacama salt flat that supplies output for the state-run miner SQM as well as the US-based company Albemarle.
In May, ENAMI plans to select a partner to jointly develop lithium mining at the two salt flats identified in the Salares Altoandinos project, marking a significant state initiative into lithium production. Various proposals have been submitted by potential partners including Chinese automaker BYD and companies such as Eramet, Posco, and Rio Tinto. CNGR Advanced Material and LG Energy are also competing for financing involvement.
The new lithium resource data stems from independent consultants who utilized ENAMI’s exploration statistics. ENAMI’s head, Ivan Mlynarz, affirmed this finding, stating, “This confirms that Salares Altoandinos is a world-class project.”
The recent studies indicate that Chile’s lithium resources exceed previous estimates significantly, positioning the nation as a key player in the global lithium market. With substantial new deposits identified in the La Isla and Aguilar salt flats, a total of 3.05 million tons has been added, enhancing Chile’s standing in lithium reserves. As partnerships for mining develop, the nation is poised to solidify its role in lithium production, driving both economic and technological progress.
Original Source: www.mining.com
