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Codelco plans lithium exploration in Pedernales salt flat in late 2024
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Codelco plans lithium exploration in Pedernales salt flat in late 2024
Apr 29, 2024 11:40 AM

SANTIAGO, April 29 (Reuters) - Chile's state-run Codelco

plans to begin lithium exploration in the country's Pedernales

salt flat in the second half of the year, as part of the copper

miner's nascent efforts to mine the white metal, Chairman Maximo

Pacheco said on Monday.

Codelco, which is struggling to boost its copper output, is

expanding into lithium under a mandate from President Gabriel

Boric to boost the state's role in producing the metal that

powers EV batteries. Chile holds the world's largest lithium

reserves.

Speaking at Codelco's annual shareholders meeting,

Pacheco said the company planned to carry out exploration to

gauge the potential for lithium production at the salt flat.

Lithium in Chile is currently mined only in the Atacama

salt flat. Codelco plans to partner with miner SQM in

that region, as well as spearhead new projects in the Maricunga

and Pedernales salt flats, which Chile believes to have high

production potential.

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