Codelco in early talks with prospective partners for northern Chile lithium venture
As it wraps up an exploration program this year at the Maricunga salt flat, Codelco has been contacted by several companies, chairman Maximo Pacheco said.
The document, which has yet to be approved by Congress, will see First Quantum pay $375 million a year plus a royalty of 12% to 16% of the mine's gross profits.
The bank for decades held more than 300 tonnes equivalent of gold, but between 2015 and 2017 the government began using the precious metal as a collateral for loans with international banks.
Embryonic plans to nationalize mining, the creation of a one-chamber Congress, water rights, and protections for indigenous territories are some of the more edgy motions the assembly will discuss.
The initial capital requirement at Escalones is $438.4 million, followed by a sustaining investment of $192.5 million over the 20-year life of the project.
Las Bambas, which produces 2% of the world's copper supply, has said it will have to suspend production on February 20 if the road is not cleared by then.