Santiago, 31 August 2022 (TDI): Soquimich (SQM) Lithium Mine on the Atacama salt flat is the world’s second-largest salt flat and the largest lithium deposit currently in production.
It encloses over a quarter of the world’s known reserves located in the Atacama desert in the northern region of Chile.
Chile lithium producer SQM gets green light on environmental plan https://t.co/xszkDHXZRy pic.twitter.com/Fw7N3NOCJd
— Reuters (@Reuters) August 31, 2022
On Tuesday, Chile’s environmental regulator approved a compliance plan for lithium producer company SQM. It is a step forward for the company’s operations following a years-long sanctioning process for environmental infractions.
The environmental regulator said that revision of SQM’s previous plan, mandated by a local environmental court in 2020, provides for the gradual reduction of the company’s water and brine extraction in Chile’s northern Atacama salts flat.
In 2016, an audit found the company over-extracting brine from which lithium is mined. Moreover, it was found guilty of providing incomplete information to authorities, among other infractions.
“As a company, we have executed a large number of measures as part of the approved (plan), and we hope to implement all the commitments agreed on with the (regulator) and local communities in the coming weeks,” SQM said in a statement.
The newly approved plan costs the company $52 million in investments. The plan addresses six environmental infractions detected by the regulator.
It imposes a maximum reduction in the maximum brine extraction limit until it reaches 822 liters per second in 2027. The plan also involves a 50% reduction in the total usage of industrial water.
About SQM
Based in northern Chile’s Atacama desert, SQM is a titan in the LCE space. Besides being a chemical producer specializing in fertilizers and agricultural chemicals, SQM is arguably the world’s most important low-cost lithium producer.
SQM enjoys a 22% share of the global lithium market with at least 20-25 years of reserves. The company takes the initiative to reduce the use of fresh and saltwater from the Atacama desert.
This initiative reduces the overall impacts of its operations in one of the driest regions around the world.
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