Rio Tinto and BYD Among Six Companies Advancing Lithium Project in Chile

SANTIAGO (Reuters) – Mining giant Rio Tinto (NYSE: RIO) and Chinese EV-maker BYD (SZ: 002594) are among six companies eligible to propose development plans for a lithium project in Chile’s Altoandinos salt flats, as stated by state-run mining company ENAMI on Thursday.

The salt flats in the northern Atacama region are part of Chile’s initiative to enhance lithium production through new partnerships with the state.

ENAMI began its search in May, seeking partners for either financial support or operational backing at Altoandinos, with ownership stakes yet to be defined.

The contenders moving forward also include French miner Eramet, which has concessions at Altoandinos, along with South Korea’s LG Energy and Posco, and China’s CNGR Advanced Material. Initially, twelve companies expressed interest, according to ENAMI.

Chile ranks as the second-largest lithium producer globally, an essential element for batteries in electric vehicles.

ENAMI will now begin negotiations with the final applicants, providing them with technical data regarding the lithium deposit at Altoandinos.

It aims to establish a public-private partnership by March 2025, ENAMI announced.

“We are moving forward with concrete actions for the National Lithium Strategy, with this announcement of the companies that meet the high selection standards,” stated ENAMI chief Ivan Mlynarz.

ENAMI, which processes copper for domestic mining firms, is leading the government’s first projects in lithium, alongside state mining giant Codelco, also in search of partners for the Maricunga salt flat.