Countdown to Codelco's Lithium Leap in Maricunga

Chile's state-owned copper giant, Codelco, is aiming for its lithium project in the Maricunga salt flat to be realized in eight years. The venture, co-managed with Rio Tinto, is awaiting regulatory approvals from multiple countries. Codelco is reassessing plans amidst its changing status in the copper industry.

Chile's state-owned mining company, Codelco, anticipates the fruition of its lithium project in the Maricunga salt flat within the next eight years, according to chairman Bernardo Fontaine.

The project, in partnership with Rio Tinto, is yet to formalize a joint agreement due to pending regulatory approvals, despite meeting some international conditions.

Moreover, Fontaine argued against lithium being categorized as a critical mineral, citing its abundant global supply. Codelco, having lost its title as the largest copper producer in 2025, is now reevaluating its strategic investments and potential asset sales.