Further to its previous announcements, on 8 March 2018 and 3 April 2018, Lithium Power International Limited (ASX:LPI) (“LPI” or “the Company”) provides this response to media reports on the licensing matter currently before the Chilean courts.
The case relates to the awarding of a CEOL (Lithium Special Operation Contract) to exploit lithium to the state-owned copper company, Codelco, immediately prior to the change of Chile’s government on 11 March 2018. The CEOL covers the entire Maricunga Salar, including properties owned by LPI’s joint venture entity Minera Salar Blanco SA (“MSB”).
CEOL’s, however, only apply to concessions licensed under the “new” mining code and therefore only cover MSB’s Litio concessions. All of MSB’s other concessions were issued under the “old pre-1979” mining code and are not affected.
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