Chile to clean up rules for lithium industry to boost production
Jul 13, 2022
Santiago, Metropolitana de Santiago Jul 12, 2022 (Issuewire.com) - Chile´s Mining Ministry said that they would release a plan to clarify rules around its lithium industry to maintain its global share of output amid spiraling demand for the coveted battery metal.
At a gathering of lithium investors in Santiago, Mining Minister Baldo Prokurica said the administration of President Sebastian Pinera would push both state and private investment to double Chile´s production to 230,000 tonnes of lithium carbonate equivalent per year by 2023. Lithium is a key ingredient in rechargeable batteries that power everything from cell phones to electric vehicles.
Chile´s existing policy toward lithium has been criticized as confusing and uninviting to newcomers. Despite prime production conditions and upward of 50 percent of the world´s reserves. Chile now requires private miners to partner with the state or obtain a special permit known as a CEOL to mine lithium on their own.
The problem, would-be miners say, is that the government has yet to provide guidelines for obtaining a CEOL. It also has not announced a uniform royalty or tax scheme that would help investors gauge the risks.
Pablo Terrazas, Chile´s vice minister of Mining, told participants of the lithium conference that the soon-to-be-released new rules would fill these voids and add safeguards for the environment and local communities.
"We´ve learned much from our errors and we think now is the moment to correct them," Terrazas said.
The new projects would help Chile maintain its share of global lithium production amid a sharp increase in global demand.
Chile´s geological advantages for Lithium include the country´s 45 salt flats. Currently, the Atacama salt flat, one of the world´s richest known sources of lithium, accounts for all of Chile´s production of ultralight metal. Producers such as SolarBio Energy, SQM, and Albemarle Corp operate there.
The Ministry said it was also working on a database to describe the resources available in Chile´s salt flats, to help guide investors and newcomers seeking to develop new mines.
Herbert Diess, SolarBio Energy's CEO, said he saw opportunities for new players in Chile´s market but said rules were not the only constraint.
"We´re all looking forward to details of the new policy to be published," he said. "It's not just the regulatory approvals that are required. You´ve got to have a good resource."
For more information on Lithium or any of the subjects mentioned in this article please visit www.solarbioenergy.com
Media Contact
SolarBio Energy
+56 227 533 817
90 Orinoco Street, Las Condes
Source :SolarBio Energy
This article was originally published by IssueWire. Read the original article here.
More News
Chinese-run fish cages blamed for displaced Pangasinan fisherfolk
SUAL, PANGASINAN, Philippines — As Pangasinan and Zambales fishermen lose their fishing grounds in the West Philippine Sea, marginal fisherfolk in this coastal town face a similar problem with the reported encroachment of Chinese fish cage operators in their traditional fishing grounds. Local fishermen are demanding the removal of hundreds of fish cages they said
BARMM racing to pass 2027 regional budget
COTABATO CITY, BARMM, Philippines — Bangsamoro Chief Minister Abdulraof Macacua directed all new Cabinet members and heads of offices on Monday to speed up their proposed budget allocations as the Bangsamoro Parliament laid down its priority legislative agenda for its first 100 days in office. On top of the priorities is the passage of the
Accountability, aid for Leyte fishers urged after submarine cable oil leak
TACLOBAN CITY, LEYTE, Philippines — The Green Party of the Philippines Leyte chapter urged the National Grid Corp. of the Philippines (NGCP) to address the effects of the mineral oil leak off Tabango town, Leyte, and provide compensation to affected fishing communities. The group said NGCP should take responsibility for the environmental damage and possible
Legazpi City declared insurgency-free
LEGAZPI CITY, ALBAY, Philippines — The Philippine Army has declared Legazpi City under Stable Internal Peace and Security (SIPS) status after recording no armed encounters or insurgent activities in the city over the past 12 months. The declaration was made on Monday, Nov. 9 during a ceremony at the Legazpi City Convention Expo Hall A,
Bataan drug buy-bust operation uncovers alleged drug den; 7 arrested
MARIVELES, BATAAN, Philippines — A police buy-bust operation that was supposed to target a suspected drug peddler led to the discovery of an alleged drug den inside a residential house along De Guzman Boulevard in Barangay Poblacion on Monday afternoon, Nov. 9. Seven people, whose ages ranged from their mid-20s to 30s, were arrested, according
/file/publisher-c1a3f893382d2b2f8a9aa22a654d9c97/2020/08/197e664179b508d1507ff64c81b3553a.jpg)
Glaciers lost five Olympic pools' worth of ice a second in 2025 - UN agency
A run of exceptionally high global temperatures, melting ice and rising sea levels continues in 2026, WMO says.
_2026_11_10_08_58_01.jpg)
Brazil President Lula to visit PH on Nov. 14-15, 2026 for state visit
Brazilian President Luiz Inácio Lula da Silva will visit the Philippines on November 14 to 15 for a state visit, according to the Presidential Communications Office (PCO) on Tuesday.
Hold protests after Asean Summit, security official tells groups
MANILA, Philippines — A security official overseeing preparations for the country’s hosting of the 49th Association of Southeast Asian Nations (Asean) Summit has appealed to groups planning protests to hold their protests after the regional gathering as a way for Filipinos to show respect to visiting foreign leaders. Retired Major Gen. Potenciano Camba, deputy director
Vietnam Connect Forum 2026 to connect FDI enterprises with business opportunities
Vietnam Connect Forum 2026, organized by VietinBank on Nov. 17, will bring together nearly 300 representatives to discuss investment policies, tax changes, economic prospects and business cooperation opportunities.
/file/attachments/889/melako_388113.jpeg)
YOURSAY | PM, not Umno, is the problem
'Anwar has spectacularly failed to show leadership over the past four years.'
What’s the status of your agency’s 2024 PBB processing?
MANILA, Philippines — Only two out of 315 government agencies have received their 2024 Performance-Based Bonus (PBB) funding, according to the Department of Budget and Management (DBM). Based on its online tracker released on Nov. 6, the DBM has released the Special Allotment Release Order (SARO) on Oct. 29 for Central Luzon State University amounting
Comelec resumes voter registration for 2028 polls
The Commission on Elections (Comelec) on Tuesday reopened voter registration for the 2028 National and Local Elections.
YOUR NEWS, OUR NETWORK.
Do you have Great News you want to tell the world?
Be it updates about your business or your community, you can make sure that it’s heard by submitting your story to our network reaching hundreds of news sites across 6 verticals.