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Exxon plans to meet Chilean officials to discuss lithium

projects

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SLB's New Energy unit explores potential collaborations in

Chile

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Chile aims to boost lithium output via state and private

investments

By Daina Beth Solomon

SANTIAGO, Feb 19 (Reuters) - U.S. oil major Exxon Mobil ( XOM )

is planning a meeting with Chilean officials to discuss

lithium investment opportunities, according to a registry of

lobbyist meetings and a person familiar with the matter, as

fossil fuel companies increasingly look to invest in production

of the metal needed for electric vehicle batteries.

Top U.S. oilfield services company SLB, which is

similarly expanding into lithium, also recently met with Chilean

mining officials, according to the registry and the source.

The meetings reveal the first known details of interest from

the companies to seek opportunities in Chile, the world's

second-biggest lithium producer, where output currently comes

from just two companies in the Atacama salt flat.

The government is working to boost production, both through

efforts spearheaded by state-run copper giant Codelco, and by

encouraging private investment.

Oil and gas companies, under pressure to reduce carbon

emissions from operations, see parallels between conventional

oil and gas drilling methods and lithium extraction from brine,

which is the form of production used in Chile.

In January, a Chilean representative for Exxon met with

mining ministry officials to discuss an upcoming visit by

executives "interested in lithium projects in Chile," according

to a registry of lobbyist meetings.

The registry did not provide further details. The source

with knowledge of the meeting said the visit was expected in the

coming months.

Asked about interest in Chile, Exxon said in a statement, "we

have collaborations and investments all over the world," and

noted it was consistently evaluating opportunities in the energy

sector.

In late 2023, the top U.S. oil producer announced plans to

produce lithium in the U.S. with the goal of supplying the

ultralight metal to EV makers and becoming a top global

producer. It told Reuters it was studying where else in the

world it could produce lithium.

Exxon is also working to use an innovative method to

separate the metal from brine, known as direct lithium

extraction (DLE), which Chile has called for as a way to

mitigate environmental impacts.

Also in January, SLB Head of Mining Nicholas Lugansky

met with a top Chilean mining official to discuss the New Energy

unit, which includes lithium projects.

The meeting's aim was to "explore potential collaborations

with Chile and its state and private companies," according to

the lobbyist registry.

SLB in September was one of eight companies selected to test

its lithium extraction technology in the Altoandinos salt flats

in northern Chile.

SLB declined to comment, and Chile's mining ministry

declined to comment on both companies.

Chile's lithium output currently comes from Chile's SQM

and U.S. miner Albemarle.