SMM2, February 5-Lithium International Co., Ltd. (LithiumPower InternationalLtd) announced on February 5 that its joint venture, MineraSalarBlancoS.A., in the Atacama region of northern Chile, has received environmental approval for the Maricunga project.
The Central Environmental Commission of the Government of Chile has voted to approve the environmental impact assessment (EIA) for the project. This is one of the few projects approved in Chile in recent years. It will make MSB a major Chilean lithium miner with an estimated annual output of 20000 tons and an estimated capital investment of $563 million.
The focus will now be on finalizing the financial structure of the project, including off-take agreements. Construction is expected to begin at the end of the third quarter of 2020.
The environmental impact assessment was submitted by the environmental management department to the Chilean Environmental Authority in September 2018, and the environmental impact assessment report is a 11400-page comprehensive document. The environmental impact assessment process involves in-depth data collection, various environmental and engineering studies, and monitoring activities carried out by experienced corporate management and consulting experts.
Kristobal Garcia-Haidobro, chief executive of Lithium International, commented that obtaining this regulatory approval was the final step in advancing the Maricunga project and strengthening our continued strong relationship with the Chilean government. We believe that once the construction project starts, it will have a positive impact on the local community and the country. "
MSB is currently in discussions with a number of international financial institutions and potential acquirers in order to obtain the necessary funding for the construction project.
MSB is LPI's joint venture in Chile. MSB's Maricunga lithium brine project is the highest-grade and most advanced lithium project in Chile outside Salar de Atacama.
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