![]() The Peruvian government has made it clear "they want to attract other investment to drive the mining sector forward," Clarke said, mentioning drill permit approvals coming in since a government shake-up last year. Nearby Chile, Argentina and Bolivia form a so-called "lithium triangle," with massive deposits, but the Canadian-owned Falchani project is currently the only one under way in Peru, where deposits are estimated to be much smaller. Peru, the world's second-largest copper producer, is vying for a piece of the pie in the booming lithium market. "If you think about the post-COVID world and inflationary pressures, that bill (of $580 million) is probably more like $700 million today," CEO Simon Clarke said. June 19 (Reuters) - Costs of the first phase of construction at American Lithium's (LI.V) Falchani lithium mine in Peru likely have risen some 20% from an original estimate to $700 million, the chief executive of the firm said in an interview. ![]()
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