Economy minister Nicolas Grau said the country is hoping to develop between 3 and 5 new lithium projects.

The company considers selling its Brazilian nickel mine amidst low prices and supply surplus from Indonesia.

Codelco is aiming to produce between 1.325 million and 1.390 million metric tons of copper this year.

Codelco, Chile's top copper producer, has entered the lithium business mandated by the country's national lithium strategy, unveiled in 2023.

An index of deals compiled by CRU shows the discount for copper ore – known as treatment and refining charges – has fallen to a record low in data going back to 1989.

Deal clears up doubts about the project’s future, but it does not unveil any specifics related to the terms and conditions.