American Lithium unit gets green light to explore new area in Peru

American Lithium

11/05/2023 01:29

LIMA, May 10 (Reuters) - The Peruvian arm of Canadian
miner American Lithium Corp  LI.V  said on Wednesday it received
authorization from the South American nation's authorities to
carry out additional explorations near its current lithium
project.
    The new exploration will allow the firm to expand its
existing resources in the southern Puno region, bordering
Bolivia, said Ulises Solis, chief executive of the subsidiary,
known as Macusani Yellowcake S.A.C.     
    Along with Chile, Argentina and Bolivia, Peru forms part of
the "lithium triangle," which is believed to contain more than
half of the world's resources of the metal across extensive salt
flats.
    Solis said in a speech during an industry event that the
company received authorization last Friday to develop
exploration activities in the Quelcaya area, located a few
kilometers from the company's Falchani project.
    Last month, Peru's economy minister, Alex Contreras, said
"conditions were being established" to develop lithium mining
projects in the country, a week after Chile launched a plan to
boost state control of the industry.

 (Reporting by Marco Aquino; Writing by Carolina Pulice; Editing
by Leslie Adler)
 ((mailto:carolina.pulice@thomsonreuters.com;))