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The CEOL (Contrato Especial de Operación de Litio) is the principal licensing instrument created by Chile's 2023 National Lithium Strategy to extend state control over all new lithium salt flats outside the already- contracted Salar de Atacama. Under the strategy, no private concessions are granted; instead the state nominates a public vehicle (ENAMI or Codelco) that selects a private partner through competitive tender and enters a joint operation under a fixed-term CEOL issued by the Ministry of Economy.
This CEOL — covering the Salares Altoandinos basins in the Atacama Region — was the first instrument of its kind ever signed, preceding the Codelco– Rio Tinto Maricunga CEOL (February 2026) and the Laguna Verde CEOL (March 2026). ENAMI was selected as the state vehicle rather than Codelco because ENAMI traditionally serves small- and medium-scale miners and the government sought to demonstrate that the strategy applied beyond the large Codelco umbrella. Rio Tinto was confirmed as preferred partner on 28 May 2025 and signed the binding JV agreement on 24 July 2025 ($425M cash + DLE technology, 51% stake), with the formal CEOL signing ceremony led by President Boric on 5 September 2025.
Key contract terms:
Salar de Atacama and Salar de Maricunga)
the Atacama–SQM/Codelco duopoly by opening new salt flats under a state-majority-control model.
Maricunga) and its first in the Salares Altoandinos basins, diversifying its lithium pipeline ahead of expected DLE commercialisation.
apply the National Lithium Strategy horizontally across different state corporates, potentially creating a more distributed governance structure for future CEOLs.
parallel CEOL-governed lithium production nodes in development by 2026, placing it on track to remain the world's #2 lithium producer through the 2030s.
2025 binding agreement) completed on schedule — conditions included foreign competition-authority approvals.
evaporation-pond methods employed at Atacama.
with heightened indigenous and environmental scrutiny.