Codelco's Move into Lithium: The Acquisition of the Maricunga Project Marks a Pivotal Shift in Mining

Codelco marks a milestone in Chilean mining, acquiring Maricunga Project to expand into crucial lithium sector, diversifying from copper as electric mobility revolutionizes.

The Maricunga Project, located in the Atacama Region, is recognized for hosting one of the largest lithium reserves in Chile. Leveraging its expertise and leadership in the mining industry, Codelco plans to implement sustainable practices and innovative technologies in lithium extraction, aligning with environmental standards and contributing to the development of a more sustainable supply chain.

According to associated sources, the president of the state-owned company, Máximo Pachecho, pointed out that 'the acquisition of LPI is a logical consolidation within the lithium landscape of the Maricunga Salt Flat and positions us even more in our strategy to become a globally relevant supplier of critical metals to enable the energy transition and fulfill the National Lithium Strategy.

The expansion into lithium responds to the growing global demand for batteries for electric vehicles and energy storage systems. Codelco aims to position itself as a key player in this emerging market, leveraging its mining experience and commitment to sustainability.

This acquisition not only represents a new phase for Codelco but also signals a significant shift in the landscape of lithium mining in Chile. The Maricunga Project is expected to contribute not only to economic growth but also to the transition to cleaner and more sustainable energy sources in the era of electrification.