The Chilean government is working to boost production, both through efforts led by state-owned copper giant Codelco and by encouraging private investment.
ExxonMobil plans to meet with Chilean officials to discuss investment opportunities in lithium, according to a lobbying filing and a source with knowledge of the matter, as oil companies look to invest in production of the key metal for electric vehicle batteries.
In January, U.S. oil services firm SLB, also interested in lithium, met with Chilean officials, according to the record and the source.
The meetings reveal the first known details of the companies' interest in seeking opportunities in Chile, the world's second-largest lithium producer with output currently coming from just two companies in the Atacama salt flat.
The government is working to boost production, both through efforts led by state copper giant Codelco and by encouraging private investment.
Oil and gas companies, under pressure to reduce carbon emissions from their operations, see parallels between conventional oil and gas drilling methods and lithium extraction from brine, which is the form of production used in Chile.
In January, an Exxon representative in Chile met with officials from the Mining Ministry to discuss an upcoming visit by executives “with interest in lithium projects in Chile,” according to a log of lobbying meetings. The log did not provide details. The source, with knowledge of the meeting, said the visit was expected in the coming months.
Asked about the upcoming visit, ExxonMobil said in a statement: "We have collaborations and investments around the world," noting that it was constantly evaluating opportunities in the energy sector.
Exxon announced plans to produce lithium in the United States in late 2023 to supply electric carmakers, and told Reuters it was looking at where else in the world it could produce the metal.
Exxon is also working to use an innovative method to separate the metal from the brine known as direct lithium extraction (DLE), which Chile has requested as a way to mitigate environmental impacts.
Also in January, SLB's mining director, Nicholas Lugansky, met with a senior Chilean official to discuss the New Energy unit, which includes lithium projects.
In September, SLB was one of eight companies selected to test lithium extraction technology in the Altoandinos salt flat in northern Chile.
SLB declined to comment, and Chile's Mining Ministry also declined to comment on either company.
Oil and gas companies, under pressure to cut carbon emissions, see parallels between conventional oil and gas drilling methods and the extraction of lithium from brine, which is the method used in Chile.
In Chile, only two companies produce lithium: Chilean SQM and American Albemarle. Meanwhile, the government is seeking to increase production through state projects as well as private investment.
