Novandino Litio, the joint venture between Chile’s Codelco and SQM, will submit the environmental impact study for its Salar Futuro lithium project in June, local media reported on Thursday.
The project is estimated to cost between $2 billion and $3.5 billion.
Salar Futuro aims to produce 280,000 to 300,000 metric tons of lithium carbonate equivalent (LCE) annually.
Codelco chairman Maximo Pacheco told journalists that Salar Futuro represents the most important challenge for the partnership.
Codelco’s 2026 copper production will exceed 2025 levels, Pacheco said.
He acknowledged it was “perhaps an error” to tackle four megaprojects simultaneously at Codelco, calling it a “titanic task.”
Pacheco is set to leave his role on May 25. He ruled out leaving the position early.
(By Kylie Madry and Fabian Cambero; Editing by Brendan O’Boyle)
