SANTIAGO, May 15 (Reuters) - Chile's economic

development agency CORFO on Wednesday said it reached an

agreement with U.S.-based Albemarle to establish an option for

the company to increase its production quota by 240,000 metric

tons of lithium metallic equivalent (LME).

To access the higher quota, Albemarle would need to prove

the use of sustainable technology such as direct lithium

extraction, consult local indigenous communities, and obtain

environmental permits, CORFO said in a statement.