(Bloomberg) — Chile, home to the world’s biggest lithium reserves, is confident that investors will compete for licenses to drill new deposits even amid a worsening global glut that’s squeezing the battery-metal industry.
“We’re convinced that there’s interest,” Mining Minister Aurora Williams said in an interview late Wednesday — a day before Chile warned that global oversupply is set to increase this year, despite some industry cutbacks.
Companies have until Jan. 31 to apply directly for contracts as the government looks to open up new areas to lithium mining. Authorities have already started indigenous consultation processes for as yet untapped salt flats. Other clay and geothermal deposits are also being offered to the private sector.
For the rest of this article: https://www.bnnbloomberg.ca/investing/commodities/2025/01/23/chile-keeps-faith-in-lithium-expansion-even-as-glut-worsens/