The Peruvian unit of Canadian miner American Lithium Corp said on Wednesday it has received authorization from authorities in the South American country to conduct more exploration near its existing lithium projects.
Ulises Solis, chief executive of the subsidiary, Macusani Yellowcake SAC, said the new exploration would allow the company to expand its existing resources in the southern Puno region bordering Bolivia.
Along with Chile, Argentina and Bolivia, Peru forms part of the "lithium Triangle," which is believed to contain more than half of the world's lithium resources in vast salt flats.
Solis said in a speech at an industry event that it received authorization on Friday to conduct exploration activities in the Quelcaya area, just a few kilometres from the company's Falchani project.
Last month, Alex Contreras, Peru's economy minister, said "conditions are being established" for the country to develop lithium projects. The move comes a week after Chile unveiled a plan to increase state control over the industry.
