Lithium Power International Limited (ASX: LPI) (“LPI” or “the Company”) is pleased to advise that MSB, operator for the world-class Maricunga lithium project in Chile, agreed last week to cease legal proceedings, started early in 2018. These proceedings against the Chilean Government related to the issuing of a Special Lithium Operation Contract (“CEOL”) covering its new mining coded concessions to an unrelated third-party.
After very constructive discussions with the Ministry of Mines of Chile during the last 3 months, the Maricunga joint venture company, Minera Salar Blanco S.A. (“MSB”), has agreed to end its legal proceedings against the Chilean Government.
Application for a Special Lithium Operation Contract (“CEOL”) over MSB’s new code mining concessions will now be submitted in early August. This permit once approved and subject to the EIA approval, will be the final approval required to produce lithium under the present Chilean legislation.
MSB expresses its full confidence and agreement with the new government’s vision for the future of the Maricunga salar and confirms its intention to work closely with Chilean government, on the development of the Maricunga salar in the Atacama Region of Chile.
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