Lithium Power International

Maricunga Lithium Brine Project Status

Lithium Power International Limited (ASX: LPI) (“LPI” or the “Company”) has become aware of recent media speculation pertaining to the status of its Maricunga Project tenements and the Company’s market disclosure. LPI refutes the information in the news articles (AFR online, Street Talk 16/7/23, reporting on a Chilean newspaper article) and confirms that the market has been fully informed, as repeated below.


On the evening of Thursday, 20 April 2023 (Chilean time), Chilean President Gabriel Boric formally announced the Chilean National Lithium Policy (“NLP” or “Policy”) on National Television. This initial speech outlined the Policy in relation to the Atacama Salar and the two producing lithium brine companies. A subsequent speech was given by President Boric on Friday, 21 April 2023 (Chilean time), discussed the other Chilean lithium brine projects, including the Company’s’ project on the Maricunga salar.

On Monday 24 April 2023, the Company, aware of its ASX Continuous Disclosure obligations, provided a comprehensive analysis of the Policy and the effect on its Maricunga project. Shareholders and Investors were also invited to attend an investor conference call, hosted by LPI’s Chief Executive Officer, Cristobal Garcia-Huidobro, on Monday 24 April 2023, at 12.00pm (Noon) AEST, to discuss the NLP further. This webinar was very well attended.

For ease of reference, the key points from this announcement are contained in an Appendix to this ASX release.

The Company also provided further information on NLP in the March 2023 Quarterly Activities Report, released to ASX on Friday 28 April 2023.

In response to the content of the latest article, LPI informs the following:

  • The standing of its concessions and permitting according to Chilean law is solid and there are not, nor have there ever been, judicial processes that have had the purpose of questioning the aptitude, rights and capacity to exploit Lithium from Mining Properties constituted prior to the year 1979.
  • In addition , all rights have been confirmed and published by various administrative bodies of the State of Chile, including the Environmental Approval RCA Nº 0094/2020 ratified by the Committee of Minister in January 2022, and the Chilean Nuclear Energy Commission permit (CCHEN) Resolution Nº 039/2018.
  • These have also been ratified by resolutions of various superficial land easements rulings of different Ordinary Courts and the Illustrious Court of Appeals of Copiapó
  • Furthermore, all the previous have been ratified in the recent ruling issued by the Hon. Supreme Court on April 5, 2023.
  • This has been reinforced by Legal Opinions presented during the last three years from several large and specialist law firms in Chile.
  • Notwithstanding the foregoing, the company has requested the legal opinion from the most experience and well known Chilean lawyers, who, having the respective background information, have not only confirmed the aptitude, rights and capacity of its Pre-79 Assets to exploit Lithium, but they have also carried out a solid analysis and interpretation of the current Organic Constitutional and legal norms, included in the recent ruling issued by the Hon. Supreme Court on April 5, 2023. Thus, it is worth noting for her career and professional prestige, the former Codelco Prosecutor and former Lawyer member of the Hon. Supreme Court, expert in mining law Mrs. Laura Novoa; the lawyer, professor and tenured academic of the PUC in Civil Law, the most prestigious Law School in Chile, Mr. Víctor Vial; the former lawyer member of the Constitutional Court and professor Mr. Enrique Navarro; the academic in civil law of the University of Concepción and former member of the Hon. Supreme Court Mr. Daniel Peñailillo; the current lawyer member of the Hon. Supreme Court and professor Ricardo Abuabuad and the prominent civil law professor and former member of the AC of Santiago, Iñigo de la Masa.

LPI has absolute confidence in the Chilean legal system and in its strict compliance by its authorities, including Ministers, where only the Courts have the jurisdiction to interpret laws. LPI confirms that there are not, nor have there ever been, judicial processes that have had the purpose of questioning the aptitude, rights and capacity to exploit Lithium from Mining Properties constituted prior to the year 1979.


Click here for the full ASX Release

This article includes content from Lithium Power International, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.

LPI:AU
The Conversation (0)
A battery with Australia flag.

4 Best-performing ASX Lithium Stocks of 2025

Global demand for lithium presents a significant opportunity for Australia, which is home to many ASX lithium mining stocks as the world's top lithium producer.

Australia’s abundant lithium reserves and strong mining sector, position the country as a key player in the battery value chain into the 2030s. However, rapid electric vehicle (EV) market growth projections drove increased lithium mining rates, leading to a global surplus.

Against that backdrop, Australia’s lithium sector faced headwinds in Q1 2025 due to falling global lithium prices and continued market oversupply.

Keep reading...Show less
A sack of US money.

California Touts US$540 Billion Salton Sea Lithium Discovery

Scientists have discovered an estimated US$540 billion worth of lithium beneath California’s Salton Sea, a finding that could reshape the global energy market and reduce US reliance on foreign lithium supply.

The Salton Sea, located in Southern California’s Imperial County, has long been considered an environmental concern due to its receding shoreline and rising air pollution.

Now, researchers funded by the US Department of Energy have confirmed the area holds approximately 18 million metric tons of lithium — far more than previous estimates of 4 million metric tons.

Keep reading...Show less
Lithium periodic symbol and Canadian flag.

Top 5 Canadian Lithium Stocks of 2025

The lithium market continued to battle headwinds during the first quarter of 2025 as residual oversupply weighed on prices, pushing them to a four year low.

Weaker-than-expected demand to start the year also added pressure to the oversupplied market, resulting in the lithium carbonate CIF North Asia price to fall below US$9,550 per metric ton, its lowest point since 2021.

Analysts have suggested the persistent downturn is the signaling of a market bottom. This theory is further supported by a projected production reduction that will help absorb market oversupply.

Keep reading...Show less
Green blocks with leaves on them push purple blocks with "CO2" written on them.

Funding the Energy Transition: The Role of Public and Private Finance in Building Supply Chains

The energy transition demands substantial funding as participants look to build out infrastructure and supply chains, but experts say new solutions are emerging to help navigate this landscape.

During the "Financing the Energy Transition" panel at the Benchmark Summit, participants discussed the role of government and public sector investment, as well as the outlook for Canada's electric vehicle (EV) supply chain.

Moderated by Adam Webb, head of battery raw materials at Benchmark Mineral Intelligence, the discussion at the Toronto-based event opened with a snapshot of Canada’s EV battery supply chain buildout.

Keep reading...Show less
International Lithium Chairman and CEO John Wisbey.

International Lithium Plans PEA on Rubidium Resource at Raleigh Lake Project, CEO Says

John Wisbey, CEO of International Lithium (TSXV:ILC), discusses the company's strategic sale of its Irish lithium property, progress on the Raleigh Lake lithium-rubidium project in Canada and expansion efforts in Zimbabwe.

Latest Press Releases

Related News

×