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Corfo and Rockwood signed accord for lithium exploitation at Atacama Salt Flat

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Corfo and the Rockwood company, signed an accord of technology development to increase the production of lithium at the Atacama Salt Flat. The agreement was signed in the presence of the Economy minister, Luis Felipe Cespedes, the Mining minister, Ignacio Moreno, and the Chilean representative of BID, Koldo Echeverría.

At the agreement subscription have also participated the Corfo executive vice president, Eduardo Bitran, and Stephen Elgueta, CEO of Rockwood.

The accord between Corfo and Rockwood stipulate that both parts will be focused in the company investments, of among 400 and 600 million dollars in the next four years, to increase the production of lithium carbonate, rising from 24.000 tons to 70.000, and also to develop technology capable to produce 5.000 tons of lithium hydroxide from the Atacama Salt Flat.

Céspedes explained that “Rockwood will pay aditionally to the Chilean State, among 70-100 million dollars per year, under the concept of mining royalty, income tax, commission, and others.

In addition, it was established extra support for investigation and development in the Northern Chile, of almost US$2 million, for the use of salts to thermal applications, storage and solar energy.

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