LPI 0.00% 56.5¢ lithium power international limited

MSB is currently appealing the CEOL (Special Operation Contract...

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    MSB is currently appealing the CEOL (Special Operation Contract for Lithium) given to Codelco by the Ministry of Mining (under the outgoing government) to extract lithium across Maricunga. MSB believes under current law that Codelco is strictly limited to conducting copper related operations only, therefore rendering the CEOL appointed to them unlawful and requiring either a retraction from the ministry or new legislation being ratified allowing Codelco to expand its economic activity beyond copper, and in to the exploitation of other minerals and metals.
    Currently, for a private entity such as ourselves to extract lithium in Chile from "new code" tenements, either you must partner with the state, a state owned company, or be issued a CEOL. I believe, though am not certain, that Codelco's CEOL covers our Litio concessions (new code), hence why we are appealing, as we would be forced in to partnering with (or sell to, though highly unlikely) Codelco to extract from those areas. The Pinera government has stated that it intends to create a less ambiguous mining code , as well as lessen the authority of political institutions in the handling of mining licences and contracts, making it easier for non-state entities to acquire. A business insider in Chile has also claimed that Pinera will be looking in to the ability of mining authorities to allocate entire areas to just one of the concession holders, which is what appears to have happened with Maricunga. Knowing this, it seems unlikely that the new government will seek to uphold the current CEOL given to Codelco if it is found to be unlawful by the Court of Appeals, and even if the appeal fails, could very likely make adjustments to their CEOL, limiting them to only operate on their own properties. This would allow MSB to apply for its very own CEOL in regards to our Litio tenements, and allow us to exploit them without government invovlement beyond the issuing of licences and contracts.
    Last edited by help_me: 23/03/18
 
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