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Chile to define lithium contracts by June, Mining Minister says

Mining Minister Aurora Williams

Mining Minister Aurora Williams

29th February 2024

By: Reuters

  

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Chile’s government expects to lay out by March the broad terms of lithium contracts to be offered under a new public-private partnership model, Mining Minister Aurora Williams told reporters on Wednesday.

Authorities then expect to have contracts defined by the end of June ahead of a bidding process, Williams said at an event in Santiago. Lithium investment interest remains steady even as prices of the battery metal slump, she said.

State-run copper producer Codelco and mining company Enami are representing the Chilean government in a new public-private model for lithium as President Gabriel Boric looks to open up new areas for production to meet growing demand from the EV boom. In areas deemed strategically important, private-sector partners will be offered a minority stake, while in areas of lesser importance they may take controlling stakes. The South American nation is the biggest supplier of the battery metal after Australia.

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Edited by Reuters

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