Lithium Power International Limited (LPI) has provided updated comments on the newly released National Lithium Policy in Chile and its potential impacts on its operations at the Maricunga lithium brine project in Atacama, Chile.
According to the company, even though the policy has focused on the lithium resource within the Atacama Salar, LPI wishes to clarify that the Maricunga Stage One project is fully permitted for construction.
It added that the Environmental Permit was approved in 2020 by the Servicio de Evaluacion Ambiental and that LPI obtained the necessary Chilean Nuclear Energy Commission permit in 2018 that allows it to export lithium products from Chile.
The company also confirms that its wholly owned subsidiary, Minera Salar Blanco, is the sole property owner and concessions of stages one and two of the project.
LPI is evaluating various financing options for the Maricunga stage one project, ranging from strategic equity investment to potential off-take partners and equity financing alternatives.
LPI Director Russell Barwick said the new rule remains along the lines of what was discussed and expected in the company’s discussions with Chilean authorities.
“While a central part of the strategy focuses on current operations and future exploitation of the Atacama Salar, there is also an outline on the future development of projects in other Chilean Salars,” he added.
Meanwhile, LPI CEO Cristobal Garcia-Huidobro said the company is pleased that its work to advance the Maricunga project has been reflected in a development that mirrors the objectives of the newly announced policy.
“Rather than focus on what the legislation means for the future of the Chilean lithium industry, our focus is on what it means for our Maricunga lithium project and how it will transform the Chilean lithium industry through its development,” he added.
