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and Steady","slow-and-steady","article/slow-and-steady",{"_uid":557,"date":558,"tags":559,"editor":560,"content":570,"excerpt":811,"featured":50,"reporter":812,"_editable":816,"component":817,"seo_title":553,"categories":818,"visibility":825,"author_company":49,"featured_image":826,"seo_description":811,"author_full_name":49,"author_job_title":49,"formattedDate":831,"formattedArticleDate":832},"a09335a3-4ffe-40ee-a68d-2ae239632eb9","2016-07-21 00:00",[],[561],{"slug":562,"name":563,"content":564},"matthew-bird","Matthew Bird",{"job_title":565,"image":566,"bio":568,"linkedin":569},"Senior Editor - Supply Chains & Data Visualisation",{"filename":567},"https://a.storyblok.com/f/287943243085208/512x512/14738033ec/matthew-bird.jpeg","Matthew writes, edits and produces content for Benchmark Intelligence and Benchmark Source across the whole mine to grid supply chain. He also acts as a liaison to the press. He has a PhD in electrochemistry from the University of Nottingham.","https://www.linkedin.com/in/birdmatthew/",{"type":571,"content":572},"doc",[573,580,585,590,595,600,605,610,615,620,623,630,635,640,645,650,655,660,665,670,675,680,685,690,696,701,706,711,716,721,726,731,736,741,746,751,756,761,766,771,776,781,786,791,796,801,806],{"type":574,"attrs":575,"content":576},"paragraph",{"textAlign":49},[577],{"text":578,"type":579}," Benchmark Mineral Intelligence met with Chile’s Minister for Mines, Aurora Williams and discussed SQM, Codelco, the environment, and how, despite interest in lithium skyrocketing, the country is choosing a slow, steady path to long term development of its lithium resources.","text",{"type":574,"attrs":581,"content":582},{"textAlign":49},[583],{"text":584,"type":579},"Chile has been a curious case for the lithium industry.",{"type":574,"attrs":586,"content":587},{"textAlign":49},[588],{"text":589,"type":579},"The country is the world’s leading producer of lithium compounds from brine, sourced in the Atacama Desert, one of the most hostile places on the planet. Not only are the world’s two largest lithium chemical companies operating from the Salar de Atacama, but it is also the lithium source with the lowest cost production.",{"type":574,"attrs":591,"content":592},{"textAlign":49},[593],{"text":594,"type":579},"Therefore, with lithium demand growing considerably compared to over the last five years, one would have expected supply from Chile’s own SQM SA and US-based Albemarle (formerly Rockwood Lithium and Chemetall) to have grown as well.",{"type":574,"attrs":596,"content":597},{"textAlign":49},[598],{"text":599,"type":579},"But there has been no new lithium supply from the Atacama in this time period and Chile’s stagnation has been Australia and China’s gain.",{"type":574,"attrs":601,"content":602},{"textAlign":49},[603],{"text":604,"type":579},"Australia is the world’s leading producer of the traditional hard rock lithium source, spodumene, which is exported to China and converted into lithium chemicals. It is a higher cost source to brine and one many would not have expected to come to the rescue of the industry.",{"type":574,"attrs":606,"content":607},{"textAlign":49},[608],{"text":609,"type":579},"This leaves many questioning Chile ’s position in the market while Australia and China erode its share, especially with the added pressure of a rejuvenated Argentina – the world’s second largest brine source – under new leadership.",{"type":574,"attrs":611,"content":612},{"textAlign":49},[613],{"text":614,"type":579},"Chile’s problem would have been solved with simple extension of the extraction quota both of its producers adhere to, but it is an issue that has grown more complex and political, especially with SQM.",{"type":574,"attrs":616,"content":617},{"textAlign":49},[618],{"text":619,"type":579},"Speaking with Benchmark Mineral Intelligence, Chile’s minister of mining Aurora Williams openly discussed the state of affairs for its lithium industry, the political and environmental issues and the potential for a major industrial competitor to enter the fray – Codelco.",{"type":574,"attrs":621,"content":622},{"textAlign":49},[],{"type":624,"attrs":625,"content":627},"heading",{"level":626,"textAlign":49},4,[628],{"text":629,"type":579}," How does Chile view lithium?",{"type":574,"attrs":631,"content":632},{"textAlign":49},[633],{"text":634,"type":579},"First and foremost, Chile sees the lithium market as one of high growth – and one with many applications, particularly in relation to power storage.",{"type":624,"attrs":636,"content":637},{"level":626,"textAlign":49},[638],{"text":639,"type":579}," You recently granted Albemarle [through Rockwood Lithium] additional extraction rights; will you grant SQM the same rights?",{"type":574,"attrs":641,"content":642},{"textAlign":49},[643],{"text":644,"type":579},"At this point there’s a memorandum of understanding (MoU) under discussion that needs to be completed in order to formalise any modification of the contract. So it’s at the MoU stage.",{"type":574,"attrs":646,"content":647},{"textAlign":49},[648],{"text":649,"type":579},"The situation that could develop between SQM and Corfo is down to a contractual relationship between those two parties.",{"type":624,"attrs":651,"content":652},{"level":626,"textAlign":49},[653],{"text":654,"type":579}," Is there a timetable to that?",{"type":574,"attrs":656,"content":657},{"textAlign":49},[658],{"text":659,"type":579},"Right now the points are being discussed between Corfo and SQM – a process we’re not part of at this stage.",{"type":624,"attrs":661,"content":662},{"level":626,"textAlign":49},[663],{"text":664,"type":579}," There have been disputes with SQM shareholders; do you think they will be resolved soon and how do you think they might be?",{"type":574,"attrs":666,"content":667},{"textAlign":49},[668],{"text":669,"type":579},"We don’t issue opinions on differences that might be occurring within a company. That’s something to do with the specific administration of that company.",{"type":624,"attrs":671,"content":672},{"level":626,"textAlign":49},[673],{"text":674,"type":579}," How do you view Codelco and lithium? Will they be entering the lithium space?",{"type":574,"attrs":676,"content":677},{"textAlign":49},[678],{"text":679,"type":579},"President Bachelet introduced the National Lithium Policy in January.",{"type":574,"attrs":681,"content":682},{"textAlign":49},[683],{"text":684,"type":579},"She has also entrusted Codelco to study the business mechanisms that could be used in the exploration and mining of lithium, particularly with reference to Maricunga and Pedernales.",{"type":574,"attrs":686,"content":687},{"textAlign":49},[688],{"text":689,"type":579},"In addition, and through one of its subsidiaries called Codelco Lab, the company is expanding its initiatives in areas of lithium innovation in Chile. Codelco Lab is mostly focussed on copper projects today, but it is being opened up to both molybdenum and lithium.",{"type":624,"attrs":691,"content":693},{"level":692,"textAlign":49},3,[694],{"text":695,"type":579}," So will there be state assistance for Codelco specifically in relation to lithium and technological development?",{"type":574,"attrs":697,"content":698},{"textAlign":49},[699],{"text":700,"type":579},"There’s a lithium agreement already in place between Codelco and Corfo with reference to the research of lithium applications. In particular, there’s a connection here between power storage and lithium, especially with relation to solar power, something that’s very important for the north of Chile.",{"type":574,"attrs":702,"content":703},{"textAlign":49},[704],{"text":705,"type":579},"Any collaboration or assistance by the state will come through the institutional framework of Corfo.",{"type":624,"attrs":707,"content":708},{"level":626,"textAlign":49},[709],{"text":710,"type":579}," Would Chile seek to include educational and research institutes, such as universities, within its lithium strategy?",{"type":574,"attrs":712,"content":713},{"textAlign":49},[714],{"text":715,"type":579},"There’s great interest in mining in general among Chilean academics and institutes. Lithium is a growing market but the copper market is extremely important for our country – Chile is not looking to replace copper with lithium. However, we want to and will play an integral role in the future of lithium.",{"type":574,"attrs":717,"content":718},{"textAlign":49},[719],{"text":720,"type":579},"We see great opportunities ahead; Chile has the second-largest lithium reserves in the world, so entering and developing that market – with an eye on the technological side – will be significant.",{"type":574,"attrs":722,"content":723},{"textAlign":49},[724],{"text":725,"type":579},"For example, the world has power issues and lithium’s role in energy storage is going to be vital. We see and know that our country will be a major market participant and one that adds great value.",{"type":624,"attrs":727,"content":728},{"level":626,"textAlign":49},[729],{"text":730,"type":579}," So which route in lithium development will Chile favour overall – through state or market forces?",{"type":574,"attrs":732,"content":733},{"textAlign":49},[734],{"text":735,"type":579},"Chile’s policy is to withhold lithium from mining concessions. The way our mining law has been formulated in this regard does not fit the way lithium is both found and extracted.",{"type":574,"attrs":737,"content":738},{"textAlign":49},[739],{"text":740,"type":579},"Our mining concession legislation relates to solid bodies/hard bodies and is not compatible with an ore or mineral found in a different type of environment, like lithium, which is found in the salt flats, the salares. These have ecosystems closely linked to water issues.",{"type":624,"attrs":742,"content":743},{"level":626,"textAlign":49},[744],{"text":745,"type":579}," So would the government favour working with large companies who could successfully monitor the environmental effects of lithium extraction?",{"type":574,"attrs":747,"content":748},{"textAlign":49},[749],{"text":750,"type":579},"The protection of the ecosystem will be carried out by a non-metals mining committee that was created in January and will have its first sitting in March. This committee will be made up of bodies involved in exploration or mining for lithium in Chile. For example, the Chilean Nuclear Energy Commission, the Chilean Copper Commission, the National Geology and Mining Service, the Ministry of Economy, the Ministry of the Interior and Public Security, and the Ministry of Mining among others.",{"type":574,"attrs":752,"content":753},{"textAlign":49},[754],{"text":755,"type":579},"The committee will be in charge of protecting the salt flats and its fragile ecosystem. And then, on the other hand, it will be through Codelco that we will look for the most efficient and effective business mechanisms.",{"type":574,"attrs":757,"content":758},{"textAlign":49},[759],{"text":760,"type":579},"On that last point, that includes exploration – even small-scale activity?",{"type":574,"attrs":762,"content":763},{"textAlign":49},[764],{"text":765,"type":579},"Yes that’s correct.",{"type":624,"attrs":767,"content":768},{"level":626,"textAlign":49},[769],{"text":770,"type":579}," Do you have any thoughts on energy, renewables and mining projects?",{"type":574,"attrs":772,"content":773},{"textAlign":49},[774],{"text":775,"type":579},"There’s two important points here. Firstly, what are the energy needs of the sector? Secondly, what is the cost of accessing that energy?",{"type":574,"attrs":777,"content":778},{"textAlign":49},[779],{"text":780,"type":579},"Chile can have an important role to play in the development of nonconventional energy sources, such as the development of solar energy.",{"type":574,"attrs":782,"content":783},{"textAlign":49},[784],{"text":785,"type":579},"And it’s feasible to develop these non-traditional energy sources in the same areas where mining is focussed. The same is true for wind energy. Today, in northern Chile we have large solar power fields and wind farms that obviously also help mining to reduce their costs.",{"type":624,"attrs":787,"content":788},{"level":626,"textAlign":49},[789],{"text":790,"type":579}," What expectations does the Chilean government have in terms of engagement and corporate social responsibility?",{"type":574,"attrs":792,"content":793},{"textAlign":49},[794],{"text":795,"type":579},"First of all Chile has signed Convention 169 recognising its indigenous populations and so, based on our lengthy history of mining development, we believe in a participatory model that is early, anticipated and expansive. That means mining projects would have to develop community ties even before working on a territory – and not only in the area where the extraction impact would occur but across the entire logistics chain.",{"type":574,"attrs":797,"content":798},{"textAlign":49},[799],{"text":800,"type":579},"An important development for Chile was a review of the nation’s environmental assessment system. A committee of experts under the Ministry of the Environment’s auspices will soon present results so that we have an efficient environmental assessment system.",{"type":574,"attrs":802,"content":803},{"textAlign":49},[804],{"text":805,"type":579},"And when we say efficient, we not only mean protecting the environment’s health, but also a system that is flexible and can lead to cost reductions, because this is an area associated with some high costs.",{"type":574,"attrs":807,"content":808},{"textAlign":49},[809],{"text":810,"type":579},"We also seek to establish mechanisms for citizen participation, whether that’s indigenous communities or non-indigenous communities, that will help make us more efficient in the assessment of projects as well.","Benchmark Mineral Intelligence met with Chile’s Minister for Mines, Aurora Williams and discussed SQM, Codelco, the environment, and how, despite interest in lithium skyrocketing, the country is choosing a slow, steady path to long term development of its lithium resources.",[813],{"slug":562,"name":563,"content":814},{"job_title":565,"image":815,"bio":568,"linkedin":569},{"filename":567},"\u003C!--#storyblok#{\"name\": \"article\", \"space\": \"\", \"uid\": \"a09335a3-4ffe-40ee-a68d-2ae239632eb9\", \"id\": \"\"}-->","article",[819,822],{"slug":820,"name":821},"batteries","Batteries",{"slug":823,"name":824},"critical-minerals","Critical Minerals","private",{"id":49,"alt":827,"name":827,"focus":827,"title":827,"source":827,"filename":828,"copyright":827,"fieldtype":829,"meta_data":830,"is_external_url":51},"","https://a.storyblok.com/f/287943243085208/d49ff3ad8a/bm-screen-shot-2016-07-21-at-140403.png","asset",{"alt":827,"title":827,"source":827,"copyright":827},"Jul 21, 2016","21st July 2016",[],[],1792773947090]