Lithium Boom: Chile’s State-Owned Company Launches Lithium Exploration in Pedernales Salt Flats

Codelco, a Chilean state-owned company, is set to commence lithium exploration in the Pedernales salt flat in the second half of this year, according to the company’s president, Máximo Pacheco. This initiative is part of the national policy on lithium, aimed at securing the State’s involvement in the crucial mineral industry for electric batteries.

President Gabriel Boric’s government has tasked Codelco with increasing control in strategic salt flats like Atacama and Maricunga through public-private partnerships. While Codelco will be allowed to form alliances in other salt flats such as Pedernales, there will be more flexibility in the participation and control structures. This approach aligns with the government’s vision of ensuring State participation in the lithium industry while also fostering collaboration with private entities.

Codelco aims to strategically leverage resources and expertise to advance its lithium exploration efforts and contribute to the growth of the electric vehicle industry. By participating in these collaborations, Codelco hopes to gain access to new technologies and knowledge that can enhance its research capabilities and improve its chances of success in exploring for this valuable mineral. Additionally, by working closely with private partners, Codelco can pool resources together and share costs associated with exploration projects.