Chile's Nova Andino Litio files an environmental impact study for a US$2-3.5 billion lithium project at Salar Futuro in June 2026
Nova Andino Litio submitted a full Environmental Impact Study in June 2026 for the Salar Futuro lithium project in Chile's Atacama region, targeting US$2-3.5 billion in investment and 280,000-300,000 tonnes LCE per year; the project advances under the Kast government's reduced-state-control lithium framework after Boric's state-led model was set aside
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Summary
Nova Andino Litio submitted a full Environmental Impact Study (EIS) to Chile's Environmental Assessment Service (SEA) in June 2026 for the Salar Futuro lithium project in the Atacama region. The project targets an investment of US$2-3.5 billion and is designed to produce 280,000-300,000 tonnes of lithium carbonate equivalent (LCE) per year. The EIS filing is the first large new private-sector lithium project to advance through formal environmental review in Chile since President José Antonio Kast set aside the Boric administration's state-partnership requirement for new concessions. Under Boric, lithium policy mandated that new concession holders establish a state-partnership structure with Codelco or a similar entity as an effective control partner; Kast modified this framework, enabling private developers to file EIS applications for new salares without a mandatory state co-ownership requirement. The Salar Futuro project is separate from Codelco's state-led Pedernales lithium project, which received US$12 million in pre-feasibility funding in April 2026. Chile is the world's largest lithium reserve holder and competes with Argentina and Australia for production share in the global lithium supply chain.
The split
The Kast government frames the Salar Futuro EIS as evidence that its lighter-touch lithium framework is unlocking private investment that Boric's state-centric model had deterred. The right-wing argument is that private capital, not mandated state partnerships, will maximise the pace and efficiency of Chile's lithium resource development, and that royalties and taxes provide sufficient public benefit. The left-wing opposition, including the Frente Amplio and former Boric government officials, argues that allowing private developers to control new lithium concessions without effective state partnership transfers long-term resource rents to private shareholders, following a pattern that left Chile with minimal national benefit from copper privatisation in the 20th century. Indigenous communities in the Atacama, particularly the Atacameño peoples whose ancestral territory includes the salares, have consistently argued that lithium EIS processes do not adequately consult or compensate affected communities, and that brine extraction threatens the hydrological systems that sustain the altiplano ecosystem.
By the numbers
- US$2-3.5 billion, projected investment for the Salar Futuro lithium project
- 280,000-300,000 tonnes LCE/year, Salar Futuro targeted annual production
- June 2026, date of EIS submission to Chile's SEA
- US$12 million, Codelco Pedernales pre-feasibility allocation in April 2026
- 1, number of large new private-sector lithium EIS filings in Chile under the Kast framework as of June 2026
Why it matters
Chile holds the world's largest lithium reserves and its policy framework directly shapes the global critical minerals supply chain for electric vehicle batteries and grid storage. The Salar Futuro EIS is significant because it represents the first test of whether Kast's reduced-state-control framework actually accelerates investment timelines versus Boric's model. If the EIS moves through the SEA review process in 24-36 months, the project could reach construction decision by 2028-2029, adding a material new production source to the global lithium supply chain at a critical juncture. The parallel Codelco Pedernales project means Chile is running a de facto policy experiment: state-led versus private-led lithium development, with outcomes visible to the global mining and climate finance communities. The environmental and indigenous consultation dimensions will also be watched closely, given that prior projects at the Salar de Atacama have faced years of legal challenge from Atacameño communities.
What to watch
- Whether the SEA completes the Salar Futuro EIS review within its statutory timeline and what conditions it attaches.
- Whether indigenous community consultations under the ILO Convention 169 process produce accommodations or legal challenges.
- Whether the Codelco Pedernales pre-feasibility advances to a positive feasibility study decision by year-end 2026.
- Whether the Kast government's lithium framework changes attract additional private-sector EIS applications at other salares.