This week (6.3-7.4), overseas lithium news [SMM Weekly Overseas New Energy News]

[Chile Cuts Mining License Approval Time by Up to 70%]

Chile's Congress recently passed comprehensive legislation significantly reducing licensing timelines for mining and energy projects. The move aims to boost investment in the world's largest copper producer and second-largest lithium supplier.

Approved by a 93-27-17 vote, the amendment modifies over 40 industry regulations and will take effect upon presidential signature. The government pledged to cut approval processing times by 30-70% without compromising environmental or regulatory standards.

"This will allow us to drastically shorten licensing timelines while maintaining regulatory rigor," Minister of Economy Nicolás Grau stated in a declaration.

The long-awaited reform addresses pressure from mining and renewable energy companies, who argue lengthy approval processes deter billions in potential investments. In mining alone, project approvals can take up to 12 years.

SONAMI President Jorge Riesco welcomed the reform as "a step in the right direction" but emphasized more work remains. "We appreciate the government's efforts, particularly the Ministry of Economy, but consider this only the beginning," he said.

The Antofagasta region in northern Chile, a mining investment hub, is expected to see the greatest impact. "Improved licensing timelines not only streamline project execution but also provide greater certainty for regional and national economic planning," noted regional Economic Secretary Matías Muñoz.

Central to the reform is institutionalizing the SUPER platform - a mandatory digital one-stop portal for license applications - promising end-to-end traceability, service interoperability, and real-time case tracking.

The online portal will operate alongside the newly established Industry Licensing and Investment Office, which will coordinate, advise on, and modernize the licensing framework.

Despite recent copper production declines, Chile expects to retain its position as the world's top copper producer. Cochilco forecasts its global copper output share will rise from 23.6% last year to 27.3% by 2034.

Source: ming.com

[Codelco Secures Lithium Quota, Advances SQM Joint Venture]

Chile's Codelco recently announced regulatory approval for a new lithium quota, removing one of the final hurdles for its joint venture with mining firm SQM to produce battery metals.

Chile’s nuclear energy regulator, CCHEN, has approved the extraction of 2.5 million metric tons (mt) of lithium metal equivalent (LME) from 2031 to 2060. Codelco stated that if the joint venture secures environmental permits to expand production, the approved extraction volume for the same thirty-year period could rise to 3.02 million mt.

Should CCHEN approve a higher quota, it would permit production and sales of up to 330,000 mt of lithium carbonate equivalent (LCE) annually during the thirty-year period.

Since 1979, when the Pinochet military government designated lithium as "strategic" for nuclear applications, the nuclear authority has authorized lithium quotas and exports. Today, lithium has become a critical component for EV batteries.

The Codelco-SQM partnership agreement will mark Chile’s first state participation in lithium production, though the deal still requires two key elements before finalization: regulatory approval from China and completion of consultations with local Indigenous groups. Given SQM’s international market presence, the agreement necessitates multi-country approvals.

Currently,

Santiago-based SQM and U.S. firm Albemarle are Chile’s sole lithium miners, with Chile ranking as the world’s second-largest lithium producer. SQM’s currently approved lithium production quota will expire at the end of 2030.

Source: ming.com

[Patriot Battery Metals Unlocks Tantalum Byproduct at Quebec Project]

Patriot Battery Metals is advancing multiple workflows to unlock the critical mineral tantalum, which occurs in significant quantities at its Corvette-FCI property within Quebec’s Eeyou Istchee James Bay region.

Tantalum at this property primarily exists in tantalite and has been commercially recovered from LCT (lithium, cesium, and tantalum) pegmatites historically and in active mining operations today, such as Greenbushes, Pilgangoora, Wodgina, and Tanco.

The company states this could de-risk tantalum recovery at Corvette-FCI.

Further enhancing this potential, Corvette-FCI’s mineral resources rank among the world’s top five tantalum pegmatite deposits in terms of grade and tonnage: 108 million mt indicated resources at 1.40% Li₂O and 166 ppm Ta₂O₅, plus 33.3 million mt inferred resources at 1.33% Li₂O and 156 ppm Ta₂O₅.

According to Patriot, this resource equates to 23,104 mt (50.9 million pounds) of contained tantalum.

Patriot’s ongoing tantalum recovery testing, conducted at SGS Canada’s Ontario facility, is expected to conclude in the coming weeks. The tests focus on tantalum recovery from lithium processing waste streams, with the company adding this work will inform preliminary process design and estimate overall concentrate grades and recoveries.

The company plans to proceed with subsequent initiatives, including further evaluation of potential "add-on" recovery circuits as primary lithium recovery circuits, along with process optimization efforts.

The company is also actively collaborating with potential end-users and supply chain participants to further develop economic opportunities for tantalum products anticipated from the project.

The lithium-only feasibility study for the CV5 mineral resource component of the Sakejiwana South Project remains the company's immediate priority, with completion anticipated in Q3 2025.

Upon completion of the lithium-only feasibility study, the company will assess economic potential for critical metal by-products while conducting various studies to better evaluate specific opportunities for cesium, tantalum, and gallium.

Source: ming.com

[NMDC Explores Overseas Critical Minerals Acquisitions]

India's National Mineral Development Corporation (NMDC) announced on Tuesday that as part of its global mineral diversification strategy, the company is exploring opportunities to acquire critical minerals in Africa, Australia, and South America.

On Monday, India's largest iron ore producer opened an office in Dubai to monitor mining industry developments in Africa and Australia, with a focus on mineral resource identification and due diligence activities.

In April this year, NMDC Chairman Amitava Mukherjee stated the company is seeking lithium, iron ore, copper, and cobalt resources in Africa, while exploring coking coal assets in Indonesia and Australia.

Last year, Indian Mineral Secretary V.L. Kantha Rao revealed that NMDC and Coal India Limited are exploring lithium ore resources in Chile and Australia.

In 2023, NMDC subsidiary Legacy Iron Ore signed a lithium exploration agreement with Hancock Prospecting Pty Ltd in Australia.

Source: ming.com