On May 16, in the context of the 7^th InvestChile 2024 International Investment Forum, the process for the expression of interest in the development of lithium projects in the High Andean Salt Flats of the Atacama Region was officially launched.

During the event, ENAMI extended an invitation to companies and consortiums to form public-private alliances to contribute to the development and operation of these projects, or to support financially the initiative, which is key to the National Lithium Strategy. ENAMI is currently investing US$10.5 million in the basic exploration of the Aguilar, Grande and La Isla salt flats, where it has applied for a Special Lithium Operating Contract from the Ministry of Mining (“CEOL”, for its Spanish acronym).

I. Purpose of the Process

To invite companies and consortiums to express their interest in integrating one or both of the following categories:

1. Forming a public-private association with ENAMI for the development and operation of the Project, and/or
2. Providing financing to ENAMI for the development and operation of the Project.

II. Expression of Interest Schedule

• May 16, 2024- June 7, 2024: Registration and Request for Eligibility Requirements.
• June 10, 2024- June 14, 2024: Consultation Period.
• July 1, 2024: Responses to Consultations and Clarification Letters.
• Until July 23, 2024: Submission of Expression of Interest.
• July 24, 2024-August 15, 2024: Analysis and Requirements Compliance Assessment.
• August 19, 2024: Communication of Results and Lists of Interested Parties.
• August 19, 2024- March 28, 2025: Negotiation with Registered Parties of the List of Interested Parties.
• March 31, 2025: Selection of Partner and/or Funder for the Project.

III. Stages of the Process

• Stage 1: Interested parties must submit expressions of interest accompanied by documents demonstrating compliance with various administrative and technical requirements.
• Stage 2: Review of the requirements by ENAMI and creation of a list of interested parties that meet the criteria.
• Stage 3: Final selection through the assessment of proposals and a negotiation phase, ending with the execution of contracts for the development and operation of the project.

IV. General Requirements for Interested Parties

1. Legal and Corporate Background:
   • Complete identification of the company, including names and contacts of legal representatives.
   • Legal formation documentation, with recent evidence of current powers of attorney.
2. Financial Requirements:
   • Submission of audited financial statements for the last two to three years.
   • Evidence of minimum book equity and adequate debt-to-equity ratio.
3. Experience and Technical Qualifications:

• • Proven experience in mining and lithium projects, including specific details on capacity and past operations.
  • Proficiency in refining and marketing of lithium products.

V. Notices

It is established that all notices between the interested parties and ENAMI shall be carried out by e-mail. Interested parties should send their expressions of interest and any other relevant communication to the e-mail address provided by ENAMI, specifically to altoandinos@enami.cl.

In addition, any modification to the process rules, including deadlines and requirements, shall be communicated through the same means. ENAMI has the authority to amend the terms of the process prior to the expiration of the deadline for submitting expressions of interest and such changes shall be considered an integral part of the process.

• The deadline to register for the Process is June 7, 2024, the deadline for submitting expressions of interest is July 23, 2024.

VI. Expressions of Interest Content

Interested parties must submit a letter of expression of interest according to the format provided in Annex A. In addition, they must submit the information and documents listed in Annex B and fill and sign Annexes C and D. Signatures and seals on the documents submitted must be original and duly authorized if necessary. The information must be in Spanish, and documents in foreign languages must be legalized or apostilled and translated into Spanish by an official translator. Supplementary information in English with a free translation into Spanish is also permitted. Monetary values in the documents must be stated in Chilean pesos or U.S. dollars, as appropriate.

• Attachments can be found at the end of ENAMI’s submission.

VII. Other Provisions

ENAMI has the authority to resolve any dispute or query related to the interpretation and application of the Call for Interest document. Key points include:

1. No Commitment by ENAMI: Participating in the process does not create obligations for ENAMI towards participants or third parties.
2. Obligation of the participants: By participating, the interested parties undertake to provide complete and truthful information.
3. Confidentiality: The information provided by the participants will be treated as confidential, except in those cases required by law or competent authorities.
4. Costs to be borne by the participants: All costs incurred by the interested parties are their responsibility, and they may not request reimbursement or compensation from ENAMI.
5. Right to terminate: ENAMI may terminate the process at any time without incurring any liability.
6. Jurisdiction: Any dispute shall be submitted to the ordinary courts of justice in Santiago, Chile.

Natural Resources Team | BSVV

Photo: df.cl