Chile was the second largest producer of lithium in 2020 with 18,000 tons, but has the most reserves in the world by a large amount.
According to Reuters, the country holds most of the world’s “economically extractable” lithium reserves, and its Salar de Atacama is home to approximately 37% of the world’s lithium reserve base.
Boric said that the objective is also for Chile to participate in the generation of value-added lithium products, such as batteries, and not only in exploitation, as up to now. “This implies making an additional effort to not only extract raw material, but to convert it into new products with high technological value.”
“We will do the effort of exploration, exploitation and adding value based on the principle of virtuous public-private collaboration,” said the leftist president.
The national lithium company will aim to seek partners for the development of value-added projects.
The ruler assured that the exploitation contracts in force in the country will be respected.
“In 2030, an important part of the private lease contract that we have in the Atacama salt flat ends. If we decided to do nothing, it would just stay that way,” he said.
Codelco, the Chilean national copper company, will be in charge of exploring ways in which the State can integrate the exploitation of lithium in the Salar de Atacama before the closing of the current contracts.