Salar Blanco, which is 50 percent-owned by Australian company Lithium Power International (LPI), has dropped its lawsuit against Chile to block Codelco from a lithium deposit where both have claims.
After very constructive talks with the Ministry of Mines Chile over the past 3mths, Salar Blanco has agreed to end legal proceedings and expresses its full confidence and agreement with the new governments vision of the Maricunga sala region.
“This permit – once approved and subject to the EIA approval – will be the final approval required to produce lithium under the present Chilean legislation,” Lithium Power International said in a statement on Monday.
The company said it plans to submit its application for the special operating license next month.
Lithium is the world’s hottest commodity and a key ingredient in Lithium-Ion batteries that power everything from cell phones to electric vehicles.
The remote Maricunga salt flat is a world class lithium deposit albeit far smaller than the expansive Salar de Atacama, where top lithium producers Albemarle and Chile’s SQM operate.
*Australian miner drops #lawsuit for control of #lithium deposit*
Salar Blanco, which is 50 percent-owned by Australian company Lithium Power International (LPI), has dropped its lawsuit against..https://t.co/xZeLmRhmIX pic.twitter.com/1SaxO0qJra
— Lithium WA (@LithiumWa) July 13, 2018