Wealth Minerals forms strategic alliance with National Mining Company of Chile

A leading mineral resource company, with a key focus on lithium projects in South America, has entered into a strategic alliance with a national mining company as it looks to significantly develop its Chilean properties.

Wealth Resources has entered into an agreement with the fully state-owned National Mining Company of Chile (ENAMI) where the two parties will form a strategic alliance to develop and commercialise the company’s projects in the Salar de Atacama and Laguna Verde.

Over a period of 24 months, the companies will assess the project portfolio in order to form a Joint Venture for exploration, development and mining at the sites.

Hendrik van Alphen, Wealth’s CEO, stated “We are very happy to have ENAMI as a partner for developing our assets. Not only are we now able to draw upon ENAMI’s experience and knowledge for successfully mining and processing resources in Chile, we have gained a strong state partner that can help fulfill our goals of full scale development to achieve production of lithium and by-products in Chile. This will enable Wealth and ENAMI to meet the world’s growing demand for lithium and secure Chile’s position as a premier player in global lithium markets.”

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The Atacama Salar is the World’s highest grade and largest producing lithium brine deposit, and currently produces approximately one third of global lithium output from two production facilities operated by Sociedad Quimica y Minera (“SQM”) and Rockwood Lithium.

Chile is the world’s second largest lithium producer and the largest producer of lithium extracted from high‑quality and high‑concentration brines, accounting for approximately 35% of the total global production representing 75,800t of lithium carbonate equivalent.