In a bid to enhance Chile’s lithium mining capabilities amidst water scarcity challenges, Almar Water Solutions, part of Saudi conglomerate Abdul Latif Jameel, is eyeing a collaboration with Codelco, Chile’s state mining giant. Carlos Cosin, CEO of Almar Water, disclosed this plan on Tuesday, emphasizing the potential of their technology in lithium extraction, crucial for electric vehicle batteries.
Chile stands as the world’s second-largest lithium producer and a leading copper producer. However, the lithium industry faces water supply issues exacerbated by persistent droughts in the Andean region. “We have three things: financial capacity, local presence, and access to the technology,” stated Cosin in an interview with Reuters, underlining Almar’s readiness to contribute advanced solutions without engaging directly in lithium sales.
Codelco, aiming to bolster the state’s involvement in lithium, has enlisted Rothschild, an investment bank, to identify a partner for its Maricunga lithium project. The selection process is anticipated to conclude by the first quarter of next year. Almar, bolstered by its affiliation with Abdul Latif Jameel, could bring substantial financial backing to the consortium aiming to develop Maricunga’s salt flats.
Almar Water Solutions specializes in water solutions tailored for renewable energy production, making it well-suited to address the water-intensive nature of lithium extraction. Cosin highlighted that their technology extends beyond lithium extraction to include applications in metal separation for microelectronics and battery recycling.
The potential partnership between Almar and Codelco marks a strategic move in Chile’s lithium sector, aligning financial strength with technological innovation to navigate environmental challenges. As global demand for electric vehicles rises, securing a robust lithium supply becomes increasingly critical. Almar’s entry into Maricunga could signify a significant step towards sustainable lithium production in Chile.
