Article

Codelco and Quiborax have formed Minera Ascotán SpA to explore lithium at Salar de Ascotán in Chile. The joint venture aims to secure a Special Lithium Operation Contract (CEOL) under Chile's National Lithium Strategy.

Currently, Quiborax holds a 66% stake and Codelco 34%, with plans to add a majority partner after obtaining the contract. The consortium applied for the contract in January 2025, and the Mining Ministry will present the terms to Chile's Comptroller General soon.