Maricunga Lithium Production Expected by 2030, Codelco Says

Codelco, Chile's state-owned mining company, is aiming to commence production at the Maricunga lithium project by 2030, with construction slated to begin in 2027. This timeline was reported by Reuters on June 6, citing a document from Codelco and investment firm Rothschild & Co.

The project's initial phase will produce 20,000 metric tons of lithium carbonate equivalent (LCE) annually through evaporation ponds, requiring an initial capital investment of $1.2 billion. The second phase plans to increase production to 30,000 metric tons of LCE per year using direct lithium extraction, at an estimated cost of $1.1 billion.

While direct lithium extraction is not yet commercially viable, its feasibility is under evaluation for potential application by 2033.

Codelco and Rothschild & Co. are currently seeking potential partners for the project, with an aim to finalize the process by the first quarter of 2025.

In March, Codelco completed its acquisition of Lithium Power International, an Australian mining firm holding the only permitted project in the Maricunga salt flat.