Chile pinpoints new lithium areas for private-sector development

Chile has identified new lithium areas that will be offered to the private sector as authorities attempt to tap more of the world’s biggest reserves of the battery metal, despite a current glut in the global market.

Seventeen months after unveiling its strategy for lithium, President Gabriel Boric’s government unveiled six new brine deposits that proceed to consultations with local indigenous communities. Firms can then bid for contracts, although groups holding existing exploration permits over at least 80% of an area can opt to apply directly, Mining Minister Aurora Williams and Economy Minister Nicolas Grau said in a presentation Thursday.