The Paraguayan Vice Ministry of Mines and Energy reports significant progress in the initial phase of lithium prospecting in the Boquerón department, located in the country’s Chaco region. Chaco Mineral, a consortium of Paraguayan and Canadian companies, is currently conducting geophysical studies to evaluate potential deposits in the area.
The licensed company has made an initial investment of USD 196,813.50 in territorial fees, with a total projected investment of USD 30 million for the prospecting phase. The project includes magnetotelluric studies and soil sample analysis, whose results will determine subsequent development phases.
Vice Minister of Mines and Energy, Mauricio Bejarano, emphasizes the project’s strategic importance for regional economic development. This initiative could position Paraguay within the Lithium Triangle, currently comprised of Argentina, Chile, and Bolivia, the main producers of this mineral in South America.
Paraguayan legal framework establishes a specific timeline for mining development: one year of prospecting, extendable for an additional year, followed by a three-year exploration phase. The results from these stages will determine the project’s viability, which contemplates a projected investment of USD 700 million over the next five years.
Join our WhatsApp channel
Ongoing geophysical studies aim to identify areas with high lithium potential, a mineral known as “white gold” due to its importance in the global technology industry. The company awaits laboratory results from soil samples collected during the initial prospecting phase to define the project’s next stages.
The development of this mineral resource could represent a significant opportunity for economic diversification in Paraguay’s Chaco region. The project emphasizes a sustainable and responsible approach to potential mineral exploitation, considering both economic and environmental aspects.
El artículo en español aquí.
