Chile bets on public–private power to reclaim global leadership in lithium: Video
Chile has taken a decisive step in its strategy to strengthen control over one of the world’s most sought-after resources, unveiling a joint venture between state-owned copper giant Codelco and private lithium producer Sociedad Química y Minera de Chile (SQM).
The new company, named Nova Andino Litio, will operate in the Atacama Salt Flat, a region that holds some of the country’s largest lithium reserves and is central to global supply chains for electric vehicles and energy storage.
The partnership was formally presented as part of Chile’s National Lithium Strategy, which seeks to increase state participation in the sector while maintaining cooperation with private capital. Nova Andino Litio will oversee the full lithium value chain in the Atacama, from exploration and extraction to production and commercialisation, with operations projected to extend until 2060, according to Codelco.
The launch ceremony brought together key figures from both companies, including Codelco chairman Máximo Pacheco and SQM chief executive Ricardo Ramos, alongside President Gabriel Boric, signalling strong political backing for the initiative. The presence of the head of state underlined the strategic importance the government assigns to lithium as a pillar of Chile’s future economic model.
Speaking at the event, Pacheco framed the alliance as a historic convergence between the country’s largest state-owned and private firms, arguing that it could reposition Chile at the top of global lithium production. Ramos, in turn, expressed confidence that combining the capabilities of both companies would generate greater value than operating separately, pointing to the scale and ambition of the project.
Nova Andino Litio is expected to reach an annual output of around 300,000 tonnes of lithium, a significant increase compared with national production levels in recent years. In a global context marked by rising demand for critical minerals and intensifying competition among producer countries, Chile’s move reflects a broader effort across the Global South to balance sovereignty, investment and long-term control over strategic natural resources.
This story is written and edited by the Global South World team, you can contact us here.
