Chile to auction lithium mining contracts - report

Chile will auction contracts for the right to explore and produce lithium, as the world's top copper producer seeks to boost its output of the material used in hybrid vehicles, computer and smartphone batteries, local media said on Tuesday. Development of lithium, of which Chile holds a quarter of world reserves, has been stunted by a constitutional ban on concessions, according to Chilean daily La Tercera. Companies are allowed to rent lithium-producing properties, but the mineral never belongs to the firm. Special contracts for lithium production, however, are legally permitted.

Full "Mining Weekly" article