Chile state-run mining company National Mining Company (Enami) has shortlisted Rio Tinto and another five companies to proceed with proposals to develop the Altoandinos lithium project in the Atacama Region.

The shortlisted companies will enter negotiations for a PPP to develop the lithium deposits in Chile's Altoandinos salt flats.

The selected companies are BYD Chile, CNGR Advanced Material, LG Energy Solution, Eramet Chile and POSCO.

In May 2024, Enami launched its search for a partner to provide either financial or operational support in exchange for an ownership stake in the Altoandinos project.

Enami is primarily involved in copper processing and is now venturing into lithium production, a critical component for batteries.

The Altoandinos project aims to find partners with proven expertise in the field and the financial capacity to support such a significant endeavour.

The company will now commence negotiations with the final round of applicants.

In a press statement, Enami said: “In addition, during this process, ENAMI will make available to the companies the technical information on the resource that is in the deposits with the knowledge collected after the exploration campaign carried out by the state in the area.”

Enami intends to establish a PPP by March 2025, with the chosen companies serving as the operator and/or financier.

Additionally, an indigenous consultation is under way, linked to the special operation contract requested from the Ministry of Mining, engaging with local communities.

The basic exploration campaign is set to resume in September 2024, which will enhance the estimation of lithium resources in the deposits.

Last month, Enami said 12 companies had expressed interest in the project.