The kingdom plans on entering EV market
The Chilean government is expecting the Saudi Arabian Minister of Industry and Mineral Resources, Bandar Alkhorayef, to visit the country shortly. This is according to a Reuters report from the weekend. According to the report, the Saudi Arabian mining minister plans to travel to the Latin American country in July and meet with his counterpart in Santiago. An exact date has not yet been set. According to a government source cited by Reuters, the talks between the ministers will focus on investments in lithium.
The Saudi Minister of Industry and Mineral Resources, Bandar Alkhorayef, had already told Reuters in March that the kingdom was interested in procuring lithium abroad as it wanted to enter the electric vehicle sector.
Chile is the world’s second largest producer of lithium, a key material for the manufacture of batteries that power electric vehicles.
Saudi interest in Chilean lithium could have an impact on a number of new lithium projects. These include the three large lithium salars Ollague (31 km2); Carcote (108 km2) and Ascotan (243 km2) in the Antofagasta region of northern Chile. The Canadian lithium explorer First Lithium (TSXV: FLM; FRA: X28) has promising projects in all three salars. In March of this year, the company received the green light from the Chilean environmental assessment authority for its upcoming drilling programme in the Salar de Ascotan. First-class exploration drilling targets were identified there through geophysical surveys (see Figure 1).
Figure 1: Geophysical data on the Salar Ascotan shows a 400 metres thick conductive zone with less than 1 ohm resistivity.
Rob Saltsman, CEO and First Lithium is working closely with the indigenous community of Cebollar-Ascotan to build a long-term, mutually beneficial partnership. The local population wants to benefit from employment opportunities and the improvement of the social infrastructure.
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First Lithium Minerals ist ein kanadisches Explorationsunternehmen, das sich soeben im Nordwesten von Ontario ein 1.900 Hektar großes Lizenzgebiet (Projekt LSL) mit bewiesenen Pegmatitvorkommen zu 100% gesichert hat. Das Unternehmen plant, in der laufenden Feldsaison baldmöglichst mit geologischen Kartierungen sowie Gesteins- und Bodenproben zu beginnen. Dank historischer Bohrdaten liegt First Lithium weit vor vielen Wettbewerbern, die gerade erst mit der Bodenerkundung beginnen.
