Borek has declared state control of the lithium trade, but maintains private sector involvement

Finally, President Gabriel Borik announced last night The new policy that will be applied to the exploitation of lithium In the northern salt flats, it is thought to be controlled by the state, but private companies still operate.

The policy, which is more limited to broad front expectations, looks at keeping private companies in business and not nationalizing them as was the campaign promise.

Immediately, they will seek to renegotiate the contract valid until 2030 and 2043 that allows Salar de Atacama to be exploited by SQM and Albermale, to enable the state to enter the business with a 50.1% interest. Boric made it clear, however, that if the above is not achieved, the existing contract will be respected.

The proposal of some, whether in the opposition or in the ruling party, came late because Australia has moved Chile to second place in the list of producing countries. But he left the private parties, the opposition and the Social Democracy alone because he understood the need to keep the private parties in business.

Borik spoke last night on a national TV channel voluntary to publicize these guidelines, which will be detailed in these days by the authorities. “No more mining for less,” was the phrase the president used to sum up the policy.

Initially, while creating a file State Lithium CorporationCodelco and the national mining company, Enami, will be the ones to explore and exploit minerals in the salt flats which already have projects underway. In other deposits that have not yet been floated, operations will begin to consider mixed participation.

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As the Minister of Mining simply explained, Marcella HernandoThe policy indicates that the state will put resources to their exploitation by controlling the business with 50.1%, and private companies will put the capital and technology for them with 49.9%.

The biggest doubt about this policy was what would be the future of the Salar de Atacama, the only one currently operating with the largest reserves. The idea raised by Borik is to diversify the participation towards other private actors, and for this reason the existing contracts will be renegotiated, as well as their duration.

Lithium policy also includes setting more demanding environmental protection standards for salt flats.

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