The president of the National Mining Society said in a statement the project was technically sound.

Lower ore grades and drought in Chile continued to hurt production.

The rupture of the structure unleashed a giant wave of mud that killed 270 people.

Chile's top court turned down appeals filed by communities and environmentalists against the mining project last May.

The industry is flush with cash after last year’s record profits, while boards and managers believe they have the support of key investors after promising to avoid the reckless overspending of the last cycle.

The initial resource contains 741,000 tonnes of LCE grading 175 ml/L in the indicated category and 701,000 tonnes LCE grading 185 ml/L in inferred.

The government indicated it would not allow AngloGold Ashanti’s copper-gold project to advance.

With suppliers unable to keep pace, a blistering price rally sent the total spot value of lithium consumption rocketing to about $35 billion in 2022.