Latest news with #CEOL
Yahoo
5 days ago
- Business
- Yahoo
Wealth Minerals' Participation in Successful Consortium License Permitting Bid
Vancouver, British Columbia--(Newsfile Corp. - June 5, 2025) - Wealth Minerals Ltd. (TSXV: WML) (OTCQB: WMLLF) (SSE: WMLCL) (FSE: EJZN) (the "Company" or "Wealth") announces that a Consortium to develop the Quillagua Este Salar in the Antofagasta Region, Chile, of which Wealth is a member, has successfully submitted a CEOL (Special Lithium Operating Contract) application under the fast-track process announced by the Chilean Government in September 2024 (see press release of September 30, 2024) and expanded in December 2024. The application was admitted by the Chile licensing authorities due to the application Consortium: having more than 80% of the applicable polygon, demonstrating relevant mining experience, and demonstrating financial capacity to fund a mining project. For reference about the CEOL fast-track process, please see press release of April 23, 2025. Next steps, as per the CEOL process, are the conclusion of Indigenous consultations, negotiations with the State organs as to specific operating terms and a Presidential decree establishing the CEOL based on the application. Wealth participated with three other local partners in a joint bid (the "Consortium") to extract lithium from the Quillagua Este Salar and is to provide strategic advice and know-how to the Consortium from its long operating experience in Chile. Wealth has a 3% stake in the Consortium. The CEOL application calls for lithium production from the Quillagua Este Salar, although presently the Quillagua Este Salar lithium project of the Consortium does not have an established resource or feasibility study. Regarding the Consortium's success, Henk van Alphen, CEO of Wealth Minerals Ltd., said, "While Wealth's stake in this endeavor is modest, this news does show that the Chilean regulatory regime can be successfully navigated, while also demonstrating that the Chilean authorities support the development of new lithium projects fully privately owned. Our success working with a group to make this CEOL application further underscores our commitment to permitting our Kuska project, which is only 120 km away to the northeast of the Quillagua Este Salar." About Wealth Minerals Ltd. Wealth is a mineral resource company with interests in Canada and Chile. The Company's focus is the acquisition and development of lithium projects in South America. The Company opportunistically advances battery metal projects where it has a peer advantage in project selection and initial evaluation. Lithium market dynamics and a rapidly increasing metal price are the result of profound structural issues with the industry meeting anticipated future demand. Wealth is positioning itself to be a major beneficiary of this future mismatch of supply and demand. In parallel with lithium market dynamics, Wealth believes other battery metals will benefit from similar industry trends. For further details on the Company readers are referred to the Company's website ( and its Canadian regulatory filings on SEDAR+ at On Behalf of the Board of Directors of WEALTH MINERALS LTD. "Hendrik van Alphen"Hendrik van AlphenChief Executive Officer For further information, please contact:Marla Ritchie, Michael Pound or Henk van AlphenPhone: 604-331-0096 or 604-638-3886 For all Investor Relations inquiries, please contact:John LiviakisLiviakis Financial Communications 415-389-4670 For all Public Relations inquiries, please contact:Nancy ThompsonVorticom, 212-532-2208 | Mobile: 917-371-4053 Follow Us: Facebook - - - Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release, which has been prepared by management. Cautionary Note Regarding Forward-Looking Statements This press release contains forward-looking statements and forward-looking information (collectively, "forward-looking statements") within the meaning of applicable Canadian and US securities legislation. All statements, other than statements of historical fact, included herein including, without limitation, statements regarding the anticipated content, commencement, timing and cost of exploration programs, anticipated exploration program results, the discovery and delineation of mineral deposits/resources/reserves, the Company's expectation that it will be able to enter into agreements to acquire interests in additional mineral projects, and the anticipated business plans and timing of future activities of the Company, are forward-looking statements. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions, or are those, which, by their nature, refer to future events. The Company cautions investors that any forward-looking statements by the Company are not guarantees of future results or performance, and that actual results may differ materially from those in forward looking statements as a result of various factors, including, but not limited to, the state of the financial markets for the Company's equity securities, the state of the commodity markets generally, variations in the nature, quality and quantity of any mineral deposits that may be located, variations in the market price of any mineral products the Company may produce or plan to produce, the inability of the Company to obtain any necessary permits, consents or authorizations required, including TSXV acceptance, for its planned activities, the inability of the Company to produce minerals from its properties successfully or profitably, to continue its projected growth, to raise the necessary capital or to be fully able to implement its business strategies, and other risks and uncertainties disclosed in the Company's latest interim Management Discussion and Analysis and filed with certain securities commissions in Canada. All of the Company's Canadian public disclosure filings may be accessed via and readers are urged to review these materials, including the technical reports filed with respect to the Company's mineral properties. To view the source version of this press release, please visit
Yahoo
24-04-2025
- Business
- Yahoo
Chile advances lithium contract awards process for three salt flats
The Chile Government has announced that it is progressing with streamlining the process for awarding lithium contracts across three salt flats, reported Reuters, citing the Mining Ministry. The Mining Ministry confirmed the receipt of applications from various entities to explore and potentially develop the lithium projects. Eramet has applied for rights in the Agua Amarga salt flat. In the Ascotan salt flat, applications were submitted by Eramet, Quiborax and Codelco, Chile's state-owned copper company. The Caliche Kairos consortium submitted an application for the Coipasa salt flat. These developments follow President Gabriel Boric's 2023 initiative to increase state control over lithium resources and form public-private partnerships to bolster the industry. The proposed plan includes a state-controlled joint venture between Codelco and SQM, the nation's largest lithium miner, and aims to open up other salt flats for development. The ministry highlighted that once indigenous consultations and other prerequisites for the Special Lithium Operation Contracts (CEOL), the special lithium mining permit, are met, contracts will be signed with the applicants if they concur with the terms. In the event of disagreement, the ministry indicated that public bidding processes would commence, similar to those initiated for the Ollague salt flat in the Antofagasta region, and Piedra Parada and Laguna Verde in the Atacama region. To be eligible for the expedited contract award process, interested parties were required to demonstrate ownership of the mining concession, sufficient financial capacity and relevant experience in mining or the associated value chain. Furthermore, the ministry noted that the dialogue for indigenous consultation to amend a CEOL at the Maricunga salt flat for Codelco has been completed. The statement said: "All that remains is the publication of the closing resolution, which will include the 11 agreements reached with the six communities that participated in the process." Earlier this month, Codelco secured a $666m (631.83bn pesos) loan from the Japan Bank for International Cooperation and a private financial institution. "Chile advances lithium contract awards process for three salt flats" was originally created and published by Mining Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Yahoo
23-04-2025
- Business
- Yahoo
Wealth Minerals Provides Update on Kuska Permitting
Vancouver, British Columbia--(Newsfile Corp. - April 23, 2025) - Wealth Minerals Ltd. (TSXV: WML) (OTCQB: WMLLF) (SSE: WMLCL) (FSE: EJZN) (the "Company" or "Wealth") announces that its initial application for its Kuska lithium project to receive a special lithium operation contract ("CEOL") by the State of Chile has been declined under the Fast-Track permitting policy announced on September 30, 2024. The Company is evaluating its alternatives for obtaining the CEOL, either by appealing through regular channels to the recent resolution of the Ministry of Mining, or by applying for a CEOL under the regular permitting procedures available to all lithium projects. On September 30, 2024 the Government of Chile announced the Strategic Council of the Lithium and Salt Flats Committee ("Strategic Council") approved a first group of six locations for the development of lithium projects in Chile (the "Fast-Tracked salars"), which included the Ollagüe Salar, the location of Wealth's Kuska Project, to be prioritized to receive a special lithium operation contract ("CEOL") by the State of Chile. The decision was based on all six locations having favorable conditions for the feasibility of a lithium operation (see press release of September 30, 2024). Subsequent to the September 30, 2024 announcement, the Government of Chile set rules to any and all potential applicants for the Fast-Tracked salars' CEOLs. A key issue in the rules was the establishment of a "referential Polygon", an arbitrary coordinate area overlain the salars, whereby the Strategic Council declared any Fast-Track applicant must have mining concessions for no less than 80% of the territory within the Polygon. In the case of Kuska, Wealth was not able to complete 80% of the Polygon with its mining concessions, despite the fact that it is the largest holder of mining concessions in the Ollagüe area. Wealth management applied for the CEOL in good faith despite this issue, under the assumption that the State permitting authorities would consider all factors, including Wealth's progress of the Kuska project to date plus the empowerment of the Quechua Indigenous Community of Ollagüe with a 5% carried interest in Kuska (see press release of February 3, 2025), when granting CEOLs. The Company still has the opportunity to appeal within five business days to the resolution of the Fast Track program and/or to apply for a CEOL in a regular process, outside the Fast-Track program announced in September 30, 2024. Management is working with its advisors to execute the appropriate next steps. Regarding the Fast-Track CEOL decline, Henk van Alphen, CEO of Wealth Minerals Ltd. commented: "It is unfortunate that one of the several conditions established for the Fast Track mechanism opened for the first group of six prioritized locations, was in the case of Ollagüe impossible to meet for Wealth or any other potential participant. We maintain our options open and will follow the best alternatives we have in front of us to qualify for a CEOL in due time and develop the Kuska project together with the Indigenous Quechua Community. Based on the technical work and the economic analyzes we have conducted for Kuska, the project offers significant value, both economic and social, to all stakeholders, including not only Wealth shareholders, but also the local community and the Chilean State. Thus, we remain committed to move this project forward and expect that with the appropriate sense of urgency, things can move faster." The Kuska Project is located in the Ollagüe Salar, Antofogasta region, northern Chile, and is presently 100% owned by Wealth Minerals and royalty-free. The maiden resource report published by Wealth Minerals Ltd. (see press release January 17, 2023 and Technical Report of January 13, 2023 "Estimated Lithium Resources Ollagüe Project" posted on SEDAR+) estimates 741,000 tons Lithium Carbonate Equivalent ("LCE") indicated resources grading 175 mg/L (plus 701,000 tons LCE inferred resources grading 185 mg/L) with an average indicated lithium grade of 175mg/l. On January 4, 2024, Wealth announced the key highlights of a PEA produced by DRA Global Limited. The PEA describes the Kuska Project development towards a 20,000 metric tpa LCE output and an anticipated Life of Mine ("LOM") of 20 years. The Kuska Project in the PEA demonstrates a Pre-Tax NPV10% of US$1.65 bn and a 33% IRR. The PEA was filed on SEDAR+ on February 16, 2024. About Wealth Minerals Ltd. Wealth is a mineral resource company with interests in Canada and Chile. The Company's focus is the acquisition and development of lithium projects in South America. The Company opportunistically advances battery metal projects where it has a peer advantage in project selection and initial evaluation. Lithium market dynamics and a rapidly increasing metal price are the result of profound structural issues with the industry meeting anticipated future demand. Wealth is positioning itself to be a major beneficiary of this future mismatch of supply and demand. In parallel with lithium market dynamics, Wealth believes other battery metals will benefit from similar industry trends. For further details on the Company readers are referred to the Company's website ( and its Canadian regulatory filings on SEDAR+ at On Behalf of the Board of Directors of WEALTH MINERALS LTD. "Hendrik van Alphen"Hendrik van AlphenChief Executive Officer For further information, please contact:Marla Ritchie, Michael Pound or Henk van AlphenPhone: 604-331-0096 or 604-638-3886 For all Investor Relations inquiries, please contact:John LiviakisLiviakis Financial Communications 415-389-4670 For all Public Relations inquiries, please contact:Nancy ThompsonVorticom, 212-532-2208 | Mobile: 917-371-4053 Follow Us:Facebook - - - Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release, which has been prepared by management. Cautionary Note Regarding Forward-Looking Statements This press release contains forward-looking statements and forward-looking information (collectively, "forward-looking statements") within the meaning of applicable Canadian and US securities legislation. All statements, other than statements of historical fact, included herein including, without limitation, statements regarding the anticipated content, commencement, timing and cost of exploration programs, anticipated exploration program results, the discovery and delineation of mineral deposits/resources/reserves, the Company's expectation that it will be able to enter into agreements to acquire interests in additional mineral projects, and the anticipated business plans and timing of future activities of the Company, are forward-looking statements. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions, or are those, which, by their nature, refer to future events. The Company cautions investors that any forward-looking statements by the Company are not guarantees of future results or performance, and that actual results may differ materially from those in forward looking statements as a result of various factors, including, but not limited to, the state of the financial markets for the Company's equity securities, the state of the commodity markets generally, variations in the nature, quality and quantity of any mineral deposits that may be located, variations in the market price of any mineral products the Company may produce or plan to produce, the inability of the Company to obtain any necessary permits, consents or authorizations required, including TSXV acceptance, for its planned activities, the inability of the Company to produce minerals from its properties successfully or profitably, to continue its projected growth, to raise the necessary capital or to be fully able to implement its business strategies, and other risks and uncertainties disclosed in the Company's latest interim Management Discussion and Analysis and filed with certain securities commissions in Canada. All of the Company's Canadian public disclosure filings may be accessed via and readers are urged to review these materials, including the technical reports filed with respect to the Company's mineral properties. To view the source version of this press release, please visit Sign in to access your portfolio
