Chile’s Lithium Resources Increase by 28%, Reinforcing Global Position
New studies reveal that Chile’s lithium resources exceed previous estimates by 28%. La Isla salt flat holds 2.13 million metric tons, while Aguilar holds nearly 1 million tons. These findings increase Chile’s total lithium resources to approximately 14.05 million tons. Chile is the world’s second-largest lithium producer and holds the largest reserves. ENAMI is set to start mining in collaboration with industry partners.
Recent studies indicate that Chile possesses lithium resources that are 28% greater than earlier estimates. The state mining body, ENAMI, reported that this increase stems from analyses conducted on salt flats within the northern Antofagasta region. Notably, the La Isla salt flat now contains an estimated 2.13 million metric tons of lithium—a 150% rise—while the Aguilar salt flat has nearly 1 million tons, marking a 40% increase.
Encompassing both La Isla and Aguilar, ENAMI has stated that these findings add approximately 3.05 million tons to Chile’s total lithium resources, previously estimated by the US Geological Survey (USGS) at 11 million tons. It is important to differentiate here: while resources reflect the potential size of a mineral deposit, reserves denote the quantities that can be feasibly and economically extracted.
Chile ranks as the third-largest repository of lithium resources globally, following Bolivia and Argentina, yet holds the top position in terms of reserves, with a figure of 9.3 million tons. As the world’s second-largest lithium producer, Chile’s output largely comes from the Atacama salt flat, which services both state-owned miner SQM and the US firm Albemarle.
In May, ENAMI is anticipated to select a partner for collaborative mining operations on the studied salt flats, part of the Salares Altoandinos initiative—one of the state’s initial endeavors into lithium production. Various proposals have been submitted by stakeholders including Chinese carmaker BYD and mining companies Eramet, Posco, and Rio Tinto, while financing interest has been shown by firms such as CNGR Advanced Material and LG Energy.
This new resource data derives from analyses by external consultants using ENAMI’s exploration metrics. “This confirms that Salares Altoandinos is a world-class project,” remarked ENAMI’s head, Ivan Mlynarz.
Chile’s lithium resource estimates have experienced a significant upward revision, with a 28% increase revealed by recent studies conducted by ENAMI. The findings underscore Chile’s paramount role in the lithium market as both a resource holder and producer. The impending partnership for mining operations on the newly confirmed salt flats signals a crucial step in enhancing Chile’s lithium production capabilities, reaffirming its position in the global lithium supply chain.
Original Source: www.mining.com
