Economy & Business - September 2025

CHILE | Chile hails signing of first special lithium operation contract. On 5 September Chile’s President Gabriel Boric announced the signing of the country’s first special lithium operation contract for the Salares Altoandinos project, in the northern region of Atacama. The government hailed the signing of the contract by state mining company Enami as “one of the most important milestones” of the national lithium strategy, which Boric unveiled in 2023 to boost state involvement in the lithium sector. Boric stated the project would generate more than US$15bn over its entire life cycle, saying “this is undoubtedly very good news for Chile”. The contract for the Salares Altoandinos project will last until 31 December 2060, consisting of an exploration and evaluation phase of up to nine years, with a single three-year extension; a construction phase of up to five years, with a single two-year extension; an operation and profit phase which is expected to begin between 2032 and 2034 and will last until the end of the contract; and the closure of operations. Enami will have an initial stake of 49% and will influence corporate governance and the most relevant decisions regarding the project, according to a government statement. Enami has selected Anglo-Australian mining giant Rio Tinto as its operating partner for the project. Estimated production projections indicate that 75,000 tonnes of lithium carbonate equivalent (LCE) could be produced annually from the project.

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