Will Chilean Policy Unlock Country’s Lithium Potential?
INTERVIEW ON THE PRICE OF BUSINESS SHOW, MEDIA PARTNER OF THIS SITE.
Recently Kevin Price, Host of the nationally syndicated Price of Business Show, interviewed Tim McCutcheon.
In late April 2023, the government of President Gabriel Boric announced a long-awaited plan for Chile’s lithium mining sector. The new policy line envisions a dominating state role with a partnership role for foreign companies. “The new Chilean policy regarding the lithium industry is a key step forward for developing lithium assets in Chile, and a major factor in how the global lithium industry will unfold for decades,” says Tim McCutcheon, Strategic Advisor, Wealth Minerals, (TSX. V: WML), (OTC: WMLLF) (FSE: EJZN), a mineral resource company whose focus is the acquisition and development of lithium projects in South America.
With the goal of avoiding exploitation of the country’s natural riches, Chile’s reform requires large copper and lithium producers that operate in the mineral-rich Latin American nation to pay more taxes and royalties to the government. Chile is the world’s top copper producer and No. 2 in lithium, both seen as key to making future fleets of electric vehicles powered by rechargeable batteries.
Wealth Minerals is developing its wholly-owned Ollagüe and Atacama Projects, a combined license package over 50,000 hectares in size, to produce lithium in Chile.
“We are gratified that President Boric had the courage to break the deadlock regarding government policy on lithium in Chile,” says McCutcheon, who is a capital markets professional and corporate manager with over 20 years’ business experience including as founder of DBM Capital Partners, a boutique mining resource merchant bank and as a director/CEO of several public Emerging Market natural resource companies with assets in Russia, Kyrgyzstan, Slovakia, Mali and Ghana.
“President Boric’s announcement opened the door for Wealth to develop its Ollagüe and Atacama Projects without the overhang of ambiguity regarding government policy. No doubt, this announcement will be noticed by multiple lithium consumers globally, who have been reluctant to enter Chile as strategic partners with developers like Wealth until this moment. Additionally, it has validated our work since 2016, with a singular focus on Chile’s enormous lithium potential.¨
For more great lifestyle stories click here.
LISTEN TO THE INTERVIEW IN ITS ENTIRETY HERE:
The Price of Business is one of the longest running shows of its kind in the country and is in markets coast to coast. The Host, Kevin Price, is a multi-award winning author, broadcast journalist, and syndicated columnist. Learn more about the show and its digital partners at www.PriceofBusiness.com (scroll down to the bottom of the page).
