Sydney -
Lithium Power International Ltd. (ASX:LPI) (OTCMKTS:LTHHF) ("LPI" or "the Company") shares with you the results of the recent presidential election in Chile. Mr. Sebastian Piñera, the centre-right wing candidate, defeated Alejandro Guillier, the centre-left opponent, by a wide margin of 54.6% to the centre right and 45.4% to the centre left. Piñera will be sworn into office in March 2018, for a four-year term.
The results lead to positive and favorable conditions within which the Company will be able to develop the lithium project on the Maricunga Salar. We are expecting Piñera's new Government to resume the growth of the economy and therefore the implementation of all the social programs required for the benefit of the people of Chile. We emphasize the public and private investment, in the frame of a social free market economy open to attract local and foreign investors by proving all the legal and economic certainties.
In particular, the mining program of this new Government will be focused in strengthening the mining sector as the key player for Chilean economy, assuring Chile´s world renowned top mining position. There is high expectation also in the sense that the new Government will enact all the policies to improve the lithium industry, supporting the private initiative together with the public participation, providing with a strong legal framework with a certainty on the obtaining of all environmental regulations and permissions required to carry out mining projects.
Mr. Piñera was previously President of Chile during the period 2010-2014, having faced, as first challenge of his Government, the reconstruction of the country due to the severe damages caused by one the strongest earthquakes in history occurred in early 2010. This reconstruction cost US$30,000M, being the excellent management thereof and performance on this matter worldwide recognized.
During his first Government the country recovered also the path of steady growing at rates of 5.3% average, showing among others remarkable indexes, the decrease of extreme poverty rates from 3.6% to 3.0%, the decrease of Gini index from 0.55 to 0.49, the increase of annual labour index from 1.8% to 3.5%, meaning the creation of almost 1 million new jobs, the increase of foreign investment from US$ 48,200M to US$86,900M and the decrease of inflation index from 4.5% to 2.5%.
About Lithium Power International Ltd:
Lithium Power International Ltd. (ASX:LPI) (FRA:24L) is a pure-play lithium explorer and developer, focusing on developing and fast-tracking to production the high-grade Maricunga lithium brine project in Chile.
LPI has a well known performing technical team with the experience to take the Maricunga project all the way through the development stages to production.
The regions that LPI is currently focussed on are:
1. Maricunga JV (Chile) – On 13th September 2016, Lithium Power announced the creation of a new JV to develop the world-class Maricunga lithium brine deposit in northern Chile.
2. Pilbara (Western Australia) – LPI has one granted exploration tenement and two pending exploration applications covering 203km2 in the Pilbara region of northern Western Australia. The largest granted exploration tenement is at Pilgangoora-Houston Creek is 2-3km west of the Pilbara Minerals (PLS.ASX) and Altura Mining (AJM.ASX) lithium deposits.
3. Greenbushes (Western Australia) – LPI has two granted exploration tenements covering 400km2 in the Greenbushes area of southern Western Australia. The tenements are adjacent to the world’s largest hard rock lithium mine owned & operated by Tianqi/Talison.
4. Centenario (Argentina) –Through its Argentinian subsidiary, Lithium Power holds a total of 6 granted tenements in the Centenario lithium brine salar within the Salta province of the Puna Plateau. In total, the 6 granted tenements cover an area of 61.52km2. In addition, there is 1 further tenement in the grant review stage.
With the exception of the Maricunga JV, all tenements are 100% owned by LPI or LPSA (including rights to the Centenario tenement which is the subject of review by the Argentinian mining authorities).
Source: Lithium Power International Ltd.
Contact:
Martin C Holland - CEO
Lithium Power International
E: info@lithiumpowerinternational.com
T: +61-2-9276-1245
www.lithiumpowerinternational.com
Twitter: @LithiumPowerLPI
