On July 15, Chile's state-owned copper miner Codelco announced that its Maricunga Lithium Project is now expected to commence production in 2034, a four-year delay from the original target of 2030.
Located in the Salar de Maricunga within Chile's Atacama Region, the project sits on one of the world's most lithium-rich salt flats and is a flagship development under Chile's National Lithium Strategy. The project has been jointly developed by Codelco and Rio Tinto since 2025.
Earlier this year, the Chilean government updated Codelco's Special Lithium Operation Contract, authorizing the project to proceed in line with the national lithium strategy. The latest delay underscores the protracted development timelines that lithium projects continue to face, particularly in areas such as permitting, community consultations, and environmental licensing.
Edited by Cassie Li, lixiangying@mysteel.com
