Ludwigshafen, Germany, and Vancouver, Canada, and Santiago, Chile – Wealth Minerals and BASF have agreed to enter into a collaboration for the potential development of lithium extraction, processing and refining operations at the Atacama and Ollagüe salt flats in the north of Chile.
The details of this collaboration need to be finalized and will also depend on further clarity regarding Chile’s National Strategy.
This collaboration aims to promote and enable the implementation of best-in-class social and environmental standards in the upstream part of the battery value chain, aligning with Chile’s National Lithium Strategy and global objectives of sustainable mineral supply into the battery materials supply chain and end-customers’ expectations in this field. Wealth Minerals holds mining property for over 60,000 hectares in an area with one of the highest potentials in the world for lithium production. Wealth Minerals’ preliminary estimates suggest that combining the projects at the Atacama and Ollagüe salt flats could produce over 200,000 tons of lithium carbonate equivalent per year, including downstream lithium processing.
Henk van Alphen, Wealth Minerals’ CEO commented on the transaction that “we are very excited to partner with BASF, the world’s leading chemical company, in order to develop an economically viable and attractive lithium business for all involved stakeholders, including indigenous communities and the State of Chile, adequately unlocking the significant resources owned by Wealth Minerals.”
On BASF side, Peter Schuhmacher, President of BASF’s Battery Materials and Recycling business, says: “BASF has already developed a strong position in the battery materials industry and is one of the few global players able to offer high-end cathode active materials in all major regions. While we also focus on battery recycling solutions, ensuring a stable supply of key raw materials is another part of our strategy. Therefore, we are also evaluating backward integration projects for battery minerals, such as the exciting lithium projects of Wealth Minerals in Chile.”
BASF Media Contact
Sarah Katharina Müller
Global Media Relations Manager
+49 173 3099 741
Wealth Minerals Media Contact
Office: 212-532-2208 | Mobile: 917-371-4053
About BASF Battery Materials and Recycling
BASF is a leading global supplier of advanced cathode active materials (CAM) for the lithium-ion batteries market, providing high performance CAM to the world’s largest cell producers and for leading platforms of OEMs. In addition, we offer base metals sourcing and management as well as closed-loop battery recycling solutions. By leveraging our industry-leading R&D platforms and passion for innovation, BASF’s Battery Materials and Recycling unit develops unique, proprietary solutions that drive customer success.
BASF Battery Materials and Recycling is part of BASF’s Catalysts division. The division’s portfolio also includes Environmental Catalysts and Metal Solutions, as well as process catalysts. Customers from a variety of industries including Automotive & Transportation, Chemicals, Plastics or Energy & Resources benefit from our innovative solutions. Further information on BASF’s Catalysts division is available on the Internet at www.catalysts.basf.com.
At BASF, we create chemistry for a sustainable future. We combine economic success with environmental protection and social responsibility. More than 111,000 employees in the BASF Group contribute to the success of our customers in nearly all sectors and almost every country in the world. Our portfolio comprises six segments: Chemicals, Materials, Industrial Solutions, Surface Technologies, Nutrition & Care and Agricultural Solutions. BASF generated sales of €87.3 billion in 2022. BASF shares are traded on the stock exchange in Frankfurt (BAS) and as American Depositary Receipts (BASFY) in the United States. Further information at www.basf.com.
About Wealth Minerals Limited
Wealth Minerals is a mineral resource company with interests in Canada and Chile. Its focus is the acquisition and development of lithium projects in South America.
Wealth Minerals opportunistically advances battery metal projects where it has a peer advantage in project selection and initial evaluation. Lithium market dynamics and a rapidly increasing metal price are the result of profound structural issues with the industry meeting anticipated future demand. Wealth Minerals is positioning itself to be a major beneficiary of this future mismatch of supply and demand. In parallel with lithium market dynamics, Wealth Minerals believes other battery metals will benefit from similar industry trends.
For further details on the Company readers are referred to the Company’s website (www.wealthminerals.com) and its Canadian regulatory filings on SEDAR at http://www.sedar.com
On January 13, 2021, and ending March 2, 2025, Liviakis Financial Communications, Inc. (LFC) was retained by Wealth Minerals LTD in various consulting capacities including strategic management planning, investor relations and other business development responsibilities. LFC is compensated CAD 20 thousand dollars per month in cash or stock equivalent. Officers and employees of LFC will buy or sell shares in Wealth Minerals LTD prior, during or after this release. LFC advises Wealth Minerals LTD but does not provide investment advice. LFC is not a registered investment advisor or broker-dealer. All material provided regarding Wealth Minerals LTD including, but not limited to its history, corporate status, and other developments was prepared using information approved and signed off by Wealth Minerals LTD management as approved for public dissemination. Although the information contained herein is believed to be reliable, LFC makes no warranties as to the accuracy of the description of any of the content herein and accepts no liability for how readers may choose to utilize it.