Rio Tinto, BYD and LG Energy show interest in Chile's Altoandinos lithium site

Twelve companies, including global miner Rio Tinto and Chinese electric vehicle manufacturer BYD, have submitted proposals to extract lithium from Chile's Altoandinos salt flats, according to a statement from state mining company ENAMI. Located in the northern Atacama region, the Altoandinos salt flats are a key area where the Chilean government aims to boost lithium production through new public-private partnerships.

ENAMI initiated the search for partners in May, seeking either financial investment or operational support in exchange for an undetermined ownership stake. Among the applicants are publicly listed French miner Eramet, South Korean battery maker LG Energy Solution, South Korean steel company Posco, and Chilean construction firm Belsaco.

Also applying are Argentina's Tecpetrol, Russia's Axionit, Canada's Summit Nanotech, Chile's Grupo Errazuriz, and Chinese entities CNRG and the BTR consortium.

Chile, the world's second-largest lithium producer, is looking to expand its output of this crucial material for electric vehicle batteries. ENAMI is expected to announce on August 19 which companies meet the eligibility criteria, and will then enter negotiations with those selected. ENAMI chief Ivan Mlynarz stated, "This confirms the commitment of these companies to proceed with a public-private partnership to advance this project."

ENAMI, which processes copper for local miners, is leading the government's new lithium ventures along with state mining giant Codelco, which is also seeking partners for the Maricunga salt flat.