A major public-private lithium initiative backed by the Chilean government is set to move forward, with POSCO Holdings and LG Energy Solution emerging as potential key players. Industry attention is focused on whether the two South Korean companies will be selected as final partners to help build a local raw material supply chain.
According to the National Mining Company of Chile (ENAMI) on April 9, Executive Vice President Iván Mlynarz stated that the agency plans to select a private-sector partner in May for the development of the Salares Altoandinos lithium brine project in the Atacama region. He added that companies currently in negotiations must submit a Request for Information (RFI).
ENAMI is in talks with four global firms for joint development: POSCO Holdings, BYD, Eramet, and Rio Tinto.
LG Energy Solution and China’s CNGR have expressed interest in participating as financial investors and are exploring opportunities for funding cooperation.
The Salares Altoandinos project is the first major step in implementing Chile’s “National Lithium Strategy,” announced in 2023. The government classifies lithium as a non-transferable strategic resource, limiting private-sector involvement. Extraction and commercialization must either be carried out by state entities such as ENAMI or through partnerships that secure government approval or a Special Lithium Operating Contract (CEOL).
Once a development partner is finalized, ENAMI plans to accelerate construction of a pilot plant and establish a roadmap for commercial production. The CEOL application has been submitted to Chile’s Comptroller General, and final approval is pending following consultation with Indigenous communities—signaling that the project is proceeding smoothly.
POSCO Holdings and LG Energy Solution expressed interest at ENAMI’s request. After reviewing various international firms last year, ENAMI invited six companies that met its standards and demonstrated competitive strength to participate.
At Cesco Week 2025, Chile’s largest mining industry event, ENAMI unveiled exploration results and updated resource estimates for the Salares Altoandinos project. Two salars within the project—La Isla and Aguilar—were found to contain 2.13 million tons and 920,000 tons of lithium, respectively. These figures represent a 150% and 40% increase from initial estimates.
The total resource volume is now estimated at 3.05 million tons, potentially boosting Chile’s national lithium reserves by 28% when added to existing assets outside the Atacama region.
“This exploration result is significant because it moves the project from potential to verified resources, confirmed by third-party validation,” Mlynarz said. “It proves that Salares Altoandinos is a world-scale project.”
