Chile’s First Private CEOL: US$70 Million Lithium-From-Waste Project
Chile has signed the state's first special lithium operating contract (CEOL) with an exclusively private company, Quiborax. The US$70 million project will recover lithium from historical mining waste at the El Águila plant in the Arica y Parinacota Region, targeting up to 20,000 tonnes of lithium carbonate equivalent. The post Chile’s First Private CEOL: US$70 Million Lithium-From-Waste Project…
On Tuesday, August 25, 2026, Chile signed its first contract for private lithium extraction through a special operating contract (CEOL) with a fully private company, Quiborax S.A. The US$70 million deal marks a pioneering step in the government's efforts to revitalize the country's lithium industry and attract fresh private capital.
The contract allows Quiborax to recover lithium from historical mining waste at its El Águila plant in the Arica y Parinacota Region. The agreement is the first of its kind, being signed solely between the state and a private operator. The Quiborax family company will develop a lithium processing and beneficiation project built on circular-economy principles, transforming industrial liabilities into a strategic resource for the energy transition.
Chile aims to take advantage of the next lithium cycle, as previous efforts were not fully utilized. The CEOL contract excludes exploration and exploitation of lithium in salt flats, prevents the use of mining discards generated after contract commencement, and prohibits the opening of new extractive operations. The project is expected to process and sell around 20,000 tonnes of lithium carbonate equivalent before December 31, 2046.
Upon completion, Quiborax's workforce will increase by more than 20 percent, providing a significant boost for formal employment in Chile's far north.
Written by urgent.news from The Rio Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
