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Chile doubles variety of lithium sites open up to financial investment

Chile has actually designated 6 more sites where personal business are qualified to extract lithium, adding to six formerly revealed, the mining ministry said on Thursday.

Chile, the world's No. 2 lithium producer, in September revealed the first batch of top priority locations for brand-new lithium extraction projects to be led by personal business.

Chile's government has been working to boost production of lithium, a crucial battery metal, by motivating personal investment as well as its own efforts by means of state-run copper giant Codelco .

The extra six zones are made up of deposits of fantastic interest for the development of lithium and other mineral expedition and exploitation projects, the ministry stated in a. statement.

Some of these jobs will permit the advancement of. polymetallic mining, lithium extraction jobs consisted of in. clay, geothermal resources, to name a few.

They lie mainly in the Antogafasta, region, too. as the Tarapaca area, both in the north of Chile.

The deadline for business to send proposals is Jan. 31. for all 12 locations, the ministry said. The date represents an. extension from the original Dec. 31 due date for the very first group. of lithium deposits.

To win federal government approval, personal business need to have. experience in the lithium worth chain, sufficient financial. resources, and hold at least 80% of the mining concessions in. the proposed task location.

There will be a various treatment just for Cerro Pabellon. in Antogafasta, due to a geothermal energy job at the site,. the ministry stated.

(source: Reuters)