- Bearing Lithium Corp. (BRZ) has received environmental approval for its Maricunga Lithium Project in Northern Chile.
- The Chilean Government’s Central Environmental Committee granted the approval to Bearing Lithium’s joint venture Minera Salar Blanco S.A. (MSB)
- Bearing Lithium Ltd. owns a 18 per cent interest in MSB, along with Lithium Power (51 per cent) and a private Chilean company (31 per cent)
- The Maricunda Lithium Project is the largest undeveloped lithium site in the Americas
- Construction is expected to begin around September of this year
- Bearing Lithium Corp. (BRZ) was up up 17.86 per cent, with shares currently trading at C$0.16
Bearing Lithium Corp’s (BRZ) proposed Maricunga Lithium Project in northern Chile has received environmental approval from the Chilean government.
The company’s joint venture company Minera Salar Blanco S.A. (MSB) was granted the approval by the Central Environmental Committee.
Bearing Lithium Corp. own a 18 per cent interest in MSB, the rest of the interest is owned by Australian mining company Lithium Power, and a private Chilean company. The two latter companies own 51 per cent and 31 per cent respectively.
Bearing claims the lithium project at Maricunga is currently the highest-grade undeveloped lithium site in the Americas. The proposed mine has an expected 23-year life and predicted output of C$1.2 billion.
“Receiving this regulatory approval is the final milestone in advancing our Maricunga project and reinforces our continued strong relationships with the Chilean Government,” commented MSB’s Chief Executive Officer, Cristobal Garcia-Huidobro.”
He went on to say that he believes the upcoming mine will be beneficial for both the company and the local residents.
Bearing Lithium Corp. noted that this is one of the few approvals the government has granted in recent years.
Once constructed, MSB will be the third significant lithium operation in Chile to date.
Construction is expected to begin around September of this year, pending funding approval. at 16 cents a share.
Bearing Lithium Corp. (BRZ) was up up 17.86 per cent, with shares currently trading at C$0.16.