“I'm convinced that our country is ready to return to leadership.”
President Gabriel Boric assured that Chile is "ready" to regain leadership in global lithium production after nine years during which the country held second place in the world for lithium production behind Australia, which took the lead in 2017.
“I'm convinced that our country is ready to return to leadership in lithium production at a global level and contribute to the energy transition,” Boric noted during the signing of the updated lithium production contract in the Salar de Maricunga.
Boric presented the National Lithium Strategy back in April 2023, aimed at increasing ore production by 70% by 2030.
The president emphasized the importance of participating in this process "in dialogue with communities, spreading knowledge, and caring for our environment.”
The opening of Salar de Maricunga, a public-private partnership between Codelco and the British mining company Rio Tinto, aims to "promote" investments in the mining industry and enhance Chile's "competitiveness" in international markets.
The update of the Special Lithium Production Contract (CEOL), originally signed by the state with Codelco in 2018, "includes a new vision of productive development involving the territory and communities" and supports private investments, according to a statement released by the president's administration.
Chile possesses some of the largest lithium reserves in the world, estimated at between 9.6 to 11 million tons (or about 24–36% of global resources). Major deposits are concentrated in the brines of the Atacama salt flat. The country is one of the key global producers, significantly increasing production volumes (up to 49,000 tons in 2024).
Key Facts about Lithium Reserves in Chile:
World Ranking: Chile ranks at the top, often referred to as the world leader in reserves.
Location: The main resource is found in the groundwater (brines) of the Atacama Desert.
Reserve Growth: According to 2025 data, studies showed a 28% increase in reserves.
Extraction: Key extraction companies include SQM and Albemarle.
Lithium in Chile is extracted through evaporation, which uses water from salt lagoons, significantly impacting the desert's ecology.
<iframe width="560" height="315" src="https://www.youtube.com/embed/XhR_EyaobS8?si=rN1iXPcDFK9oUvvG" title="YouTube video player" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
