Chile Election Results Beneficial for Mining Sector, LPI CEO Says

“I'm pretty sure that we will start seeing the results of that very soon in our economy here and in the mining industry, which has always been the engine of our economy,” Lithium Power International Managing Director and CEO Cristobal Garcia-Huidobro said.

Lithium Power International (ASX:LPI) Managing Director and CEO Cristobal Garcia-Huidobro has expressed optimism that the impending charter rewrite in Chile will be favourable to the mining industry after far-right parties dominated the 2023 Constitutional Council Election.

“Now the right-wing parties won and will have full control of the Constitutional Council … which means a very constructive and moderate document (charter) that will benefit the development of the economy, that will protect private property (and) that will also make all these changes that are necessary (to answer the) people's demands,” the CEO said. "I really think that it will be a very representative text for what people really want today in the country."

Garcia-Huidobro added that Chile’s economy stands to benefit from a new constitution created by this council, which he expects will promote more certainty and security among investors.

“The right-wing parties are very supportive of the interaction between the private sector and the state — for the state to have a more regulatory role in the economy, and to really attract new investments, to create more jobs.”

Lithium Power International's 100 percent owned Maricunga lithium brine project in Chile has the potential to become one of the world’s lowest-cost producers of lithium carbonate with an operating cost of US$3,718 per tonne.

Watch the full interview with Lithium Power International Managing Director and CEO Cristobal Garcia-Huidobro above.

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