According to recent studies by ENAMI, Chile’s lithium resources are 28% higher than previously estimated, showcasing significant increases in two specific salt flats in the Antofagasta region. An additional 3.05 million tons of lithium resources have been identified, positioning Chile as a leading holder of reserves and a major global producer.
Recent studies conducted by the state mining body ENAMI indicate that Chile’s lithium resources are 28% higher than previously reported. Specifically, research conducted in the Antofagasta region highlights increases in lithium content within two significant salt flats. The La Isla salt flat now contains approximately 2.13 million metric tons, reflecting a 150% increase from earlier estimates, while Aguilar salt flat has nearly 1 million tons, growing by 40%. Collectively, these updates contribute an additional 3.05 million tons to Chile’s overall lithium resources, previously assessed at 11 million tons by the US Geological Survey (USGS).
The classification of resources versus reserves is crucial; resources indicate the deposit size while reserves denote the economically extractable amounts. Chile ranks as the third-largest holder of lithium resources globally, following Bolivia and Argentina, yet it boasts the most substantial reserves at 9.3 million tons. Furthermore, Chile stands as the second-largest lithium producer in the world, largely due to the output from the Atacama salt flat, which facilitates operations for SQM and US-based Albemarle.
In a noteworthy development, ENAMI plans to select a partnership in May to collaboratively mine the two relevant salt flats as part of the Salares Altoandinos initiative, representing a significant step into lithium production for the state. Proposals have been received from various companies, including Chinese automaker BYD and mining giants such as Eramet, Posco, and Rio Tinto, alongside financing interests from CNGR Advanced Material and LG Energy.
The revised resource data stems from analyses performed by external consultants utilizing ENAMI’s exploratory findings. Ivan Mlynarz, the head of ENAMI, emphasized, “This confirms that Salares Altoandinos is a world-class project.” This initiative is expected to enhance Chile’s strategic position in the global lithium market.
Chile’s updated lithium resource assessments reveal significant potential for economic growth and sustainable mining practices. The collaboration between ENAMI and industry partners signals a new era in lithium production, with Chile solidifying its role as a leader in the sector. Additionally, the data underscores the importance of resource management and the need for inclusivity in mining governance, particularly concerning Indigenous communities.
Original Source: www.mining.com
