The Lithium triangle considered to reach the heights of the “Saudi Arabia of South America”
Chile’s mining investments is expected to reach about US$64 billion over the next ten years, consolidating its position as Latin America’s most attractive destination for miners, according to the state copper commission (Cochilco).
With the world experiencing slumping commodities prices, the mining industry in Chile is not only expecting lower revenues from copper this year, but the country as a whole will see its coffers take a hit.
Chile’s private mining association, Sonami, (whom Lithium Power International Limited executives met with in August 2015) said in April that for every US cent the annual average price of copper falls, Chile’s government loses $60 million and the value of its exports falls by $128 million.
Lithium prices are increasing per tonne and Chile owns 20% of the worlds lithium reserves and currently 60% of the worlds supply. Chile wishes to provide a vertical solution for Lithium explore, mine and manufacture