Rio Tinto, BYD and LG Energy are eligible for Chile’s Altoandinos lithium project By Reuters

SANTIAGO (Reuters) – Mining giant Rio Tinto ( NYSE: ) and Chinese electric vehicle maker BYD ( SZ: ) are among six companies eligible to proceed with proposals to develop a lithium project in Chile’s Altoandinos salt pan, the company state mining ENAMI said on Thursday.

The salt flats in the northern Atacama region are one of the areas where the Chilean government wants to boost lithium production in partnership with the state by starting new projects.

ENAMI launched its search in May, looking for a partner to provide either financial support or operational support in Altoandinos, for a stake that has yet to be determined.

The full list of contenders that may advance in the process includes French miner Eramet, which holds mining concessions at the Altoandinos site, as well as South Korea’s LG Energy and Posco and China’s CNGR Advanced Material.

Twelve companies initially expressed interest, ENAMI said last month.

Chile is the world’s second largest producer of lithium, a key material for most of the batteries that power electric vehicles.

ENAMI is now expected to enter into negotiations with the final round of applicants and provide them with technical details of the Altoandinos lithium deposit.

It aims to formalize a public-private partnership by March 2025, ENAMI said.

“We are moving forward with concrete actions for the National Strategy for Lithium with this announcement of companies that meet the high selection standards,” ENAMI head Ivan Mlynarz said in a statement.

ENAMI, which processes for local mining companies, has been tasked with leading the government’s first lithium projects, alongside state-owned mining giant Codelco, which is also looking for a partner in the Maricunga salt pan.