The Chilean nuclear energy commission (CChEN) authorized a joint venture between state-owned miner Enami and Rio Tinto to extract up to 1.2mn metric tonnes (t) of lithium metal from its Salares Altoandinos project by 2060.
CChEN — the governing body for Chilean lithium — approved an initial quota of 545,000 metric tonnes (t) of lithium metal equivalent (LME) for the Salares Altoandinos project, awarded through a concession to a joint venture between state-owned miner Enami and Anglo-Australian mining giant Rio Tinto.
The quota is valid until 2060 and can be expanded to a maximum of 1.22mn t. According to Enami, this represents the largest lithium mining extraction permit ever granted outside the Atacama region.
The state-owned miner also said that the economic viability study for the project is complete, confirming a production capacity of 75,000t/yr and a mine life of 28 years. With just over 3mn t of LCE resources, Altoandinos is the largest greenfield lithium project in Chile, with production scheduled to begin in 2032. The project — a 51:49pc split with Rio Tinto holding the majority stake — is projected to cost $3.2bn.
