In 2021, lithium production in Chile was estimated at 26 thousand metric tons

The Atacama Region

Futura Lithium Corp. operates the Salar de Valle Salado lithium carbonate brine project in the Atacama Region of Chile. The project consists of fourteen salars (salt lakes) which are 85% owned by Futura Lithium Corp. The project covers over 18,200 hectares. The company has a joint venture in the Chile Project with Sociedad Quimica y Minera de Chile (NYSE:SQM). SQM are the world’s 2nd largest producers of lithium and hold a large presence in the Atacama Region. The joint venture gives Futura Lithium Corp. full access to SQM’s extensive infrastructure network in the Atacama Region. In exchange SQM maintains a 15% stake in the Chile Project as part of a binding agreement that was signed in early 2022.  

The Atacama Region is located inside the Lithium Triangle, an area where the borders of Chile, Argentina and Bolivia meet. The Lithium Triangle holds 70% of the world’s lithium deposits and development in this region is vital in meeting the ever increasing global demand for lithium.

The Salar de Valle Salado project contains 8.2 million tonnes of Measured and Indicated Lithium Carbonate Equivalent (LCE) resource. The project hosts a high quality and long-life resource capable of sustaining full production for more than fifty years.

Primary technical grade lithium carbonate and both micronized and non-micronized battery grade lithium carbonate are now produced at the operation and is sold to a customer base of over 20 in Asia, Europe and North America.

Lithium carbonate production has already begun at Salars 1 to 3 of 14. The producing salars are currently operating at approximately 50% capacity. The brine is producing lithium carbonate and is processed using SQM’s facilities. SQM are assisting with the distribution and transportation to coastal Chile where the processed lithium carbonate is shipped to customers. Salars 1 to 6 are projected to reach 75% production levels by the end of 2024, with approximately 40,000 tonnes per annum expected from the five salars by that time.

Salars 7 to 14 at the Salar de Valle Salado project have concluded the initial drilling, transient electromagnetic geophysical surveys and regional surface water geochemical sampling programs. These salars will all begin producing lithium brine within the years 2025 to 2027.