Sydney-based lithium developer Lithium Power International (LPI)has received environmental approval for its Maricunga lithium brine project in the Atacama region of northern Chile.
Joint venture partner Minera Salar Blanco received the approval, which paves the way for the project to be built, LPI said.
A definitive feasibility study showed that the Maricunga project can produce around 20,000 t/yr of lithium carbonate equivalent over 20 years. The capital cost of developing the project is estimated at $563mn.
"Discussions with a number of international financial institutions and potential offtake partners are underway and will now speed up to acquire the necessary funding for the construction of the project," said LPI chief executive Cristobal Garcia-Huidobro.
It is estimated construction of the project will begin by the end of September.
