How much lithium is in the Salar de Atacama?

The lithium reserves in the Salar de Atacama, owned by Corfo, are globally significant. Of the estimated 28.3 million tons of lithium reserves, 7.5 million are located in this salt flat.

Why is Atacama a good place to buy lithium?

Furthermore, in terms of cost advantages, the production expenses for lithium in Atacama are the lowest worldwide due to favorable evaporation conditions resulting from the region's climate and the existing infrastructure facilitated by the presence of major copper mining operations nearby. 3.3. National Lithium Commission

What are the new lithium contracts?

These revised contracts include provisions such as a royalty on sales ranging from 6.8% to 40%, depending on lithium prices, and reserving 15% to 25% of extracted lithium for sale at preferential rates to manufacturing companies establishing operations in Chile.

Why is the demand for lithium increasing?

For almost 10 years, the demand for lithium – along with its price – has been steadily increasing, with almost exponential growth observed since 2015. 1 This is because, in addition to its traditional uses in lubricants, glazes, glass and ceramics, among others, lithium is now considered a fundamental energy material.

What is a Lithium Technology Center?

This center is a research initiative focused on technological innovation for the entire value chain of lithium batteries. 56 Another Chilean center focused on developing lithium technologies is the Advanced Mining Technology Center (AMTC), located at the University of Chile.