Wealth Minerals forms strategic alliance with National Mining Company of Chile

Wealth Minerals forms strategic alliance with National Mining Company of Chile

By DALE BENTON. March 20, 2018, 8:19 a.m.

An important mineral resources company, with a key focus on lithium projects in South America, has signed a strategic alliance with a national mining company that seeks to significantly develop its Chilean properties.

Wealth Resources has reached an agreement with the National Mining Company of Chile (ENAMI), state-owned, where the two parties will form a strategic alliance to develop and commercialize the company's projects in the Salar de Atacama and Laguna Verde.

Over a period of 24 months, the companies will evaluate the project portfolio to form a Joint Venture for exploration, development and mining at the sites.

Hendrik van Alphen, CEO of Wealth, said: "We are very happy to have ENAMI as a partner to develop our assets, and now we can not only take advantage of the experience and knowledge of ENAMI to mine and process resources successfully in Chile, we have gained a partner This will allow Wealth and ENAMI to meet the growing global demand for lithium and ensure the position of Chile as a first-rate player that can help meet our large-scale development goals to achieve lithium production and byproducts in Chile. level in global lithium markets. "

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The Salar de Atacama is the highest grade lithium brine deposit and largest production in the world, and currently produces approximately one third of the world's lithium production of two production plants operated by Chemical and Mining Society ("SQM") and Rockwood Lithium.

Chile is the second largest producer of lithium in the world and the largest producer of lithium extracted from high-quality, high-concentration brines, accounting for approximately 35% of the world's total production representing 75,800t of lithium carbonate equivalent.