Andina

Extraction, processing of lithium to create development pole in Peru

09:22 | Lima, Nov. 14.

The discovery of a major lithium deposit in Peru's southern Puno region opens up a range of opportunities to boost the country's growth, due to strong global demand for this mineral.

According to former Deputy Mines Minister Romulo Mucho, the extraction and processing of lithium in the deposit located in Puno will lead to the creation of a development pole, which will boost economic activity in southern regions.

"There is still a long way to go. We need to consider a series of aspects such as detailed engineering and the social license, among other things," he told Andina news agency.

He noted that a factor delaying lithium (light metal) exploitation is that the mineral is correlated with uranium. "As it is a radioactive byproduct, it requires specific legislation for its exploitation," he said.

Discovery of deposit

Last June, Canadian mining company Plateau Energy Metals announced the discovery of additional lithium reserves in this large deposit.

At first, it was estimated to be the sixth largest hard rock lithium deposit in the world, with reserves equivalent to 4.71 million tons of lithium carbonate.

The Falchani site is located in the Peruvian high plateau, in Puno region, near the border with Bolivia and Brazil.

(END) SDD/JJN/RMB/MVB

Published: 11/14/2019
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