SANTIAGO – The Chilean Copper Commission (Cochilco) will evaluate and manage investments of Chile's planned national lithium company, Mining Minister Marcela Hernando said on Wednesday.
Cochilco currently regulates and oversees the country's copper industry and will expand its mandate to lithium, used in batteries and electric vehicles.
President Gabriel Boric announced in April that the state will nationalize lithium projects considered strategic and instructed state-owned Codelco, the world's largest copper producer, to start discussions with the two companies currently operating in the coveted Salar de Atacama salt flats, Albemarle and SQM.
The bill creating the new national lithium company will be submitted to congress in the second half of the year, she said.
Economy Minister Nicolas Grau told Reuters that negotiations are expected to be completed before the end of the government term in 2026.