Published: May 29, 2025 | By: Minener.com Staff
Canadian mining company Wealth Minerals has announced it will transfer a 5% ownership stake in its Kuska lithium carbonate project to the Indigenous community of Ollagüe in Chile’s Antofagasta region. The agreement also grants the community the right to appoint one of the five members of the board of the new joint venture entity, Kuska Minerals.
This strategic collaboration includes the transfer of all of Wealth Minerals’ mining concessions in the Ollagüe region—covering more than 10,000 hectares—as well as the associated geological and technical data gathered during exploration phases.
Project Highlights
- Estimated resource: 741,000 tonnes of lithium carbonate equivalent (LCE)
- Expected production: 20,000 tonnes of LCE annually
- Mine life: 20 years
- Capital expenditure: US$749 million
- Brine concentration: Average of 701,000 mg/L; median 185 mg/L
Governance and Community Representation
Kuska Minerals’ inaugural board is expected to be appointed by late 2025. It will include prominent industry figures Marcelo Awad, Hendrik van Alphen, and Frank Reiber, alongside community leader Víctor Huan Maike, president of the Atacameño Indigenous Community of Ollagüe.
“This represents a historic achievement for our people and a step forward in managing our own natural resources,” said Huan Maike.
Next Steps: Permitting and Consultation
The company is now focused on obtaining an Environmental Qualification Resolution (RCA), a prerequisite for beginning construction. This includes completing baseline studies and initiating an Indigenous consultation process in accordance with Chilean regulations.
In September 2024, the Ministry of Mining will collaborate with the Council of Atacameño Peoples and the Committee on Lithium and Salars to guide project development in Ollagüe as part of Chile’s National Lithium Strategy.