SANTIAGO, Chile, Jan. 28, 2015 /PRNewswire/ -- Li3 Energy, Inc., (OTCPINK: LIEG –News) ("Li3", "Li3 Energy" or the "Company"), a US-listed and South America based global exploration company in the lithium and minerals sector which holds an interest in the Maricunga lithium project in Northern Chile, is pleased to announce that, after seven months of work, the Chilean National Lithium Commission, presided over by the Minister of Mining Aurora Williams, presented its final report and conclusions on the development of the lithium industry to President, Michelle Bachelet. The official ceremony took place on January 27, 2015 and included senior government officials and members of the Commission.
As a result of the National Lithium Commission's report, the Chilean government is to consider working alongside lithium producers in the private sector to develop the country's lithium reserves, increase production and secure the long term sustainability of Chile's lithium industry.
As announced in June, 2014, President Bachelet signed the decree for the establishment of the 20-member Commission, comprised of geologists, environmental specialists, natural resources and energy economists, civil engineers with different specialties, specialized attorneys in mining law, among others. Its objective is to recommend a new State Policy for the exploitation of lithium and the promotion and development of new projects.
Patrick Cussen, Chairman of Li3 stated: "Chile today has turned a new page that will mark the future development of the lithium industry in our country. We applaud the work of the Commission and look forward to working with the government to promote the development of new lithium projects in Chile. This will allow us to continue moving forward with our flagship Maricunga project."
About Li3 Energy, Inc.
Li3 Energy, Inc. is an exploration stage public company in the lithium mining and energy sector. Li3 aims to acquire, develop and commercialize a significant portfolio of lithium brine deposits in the Americas. With its interest in the Maricunga Project, coupled with the completion of the NI 43–101 Compliant Measured Resource Report and the Cocina acquisition, Li3's goals are to: a) advance Maricunga to the Feasibility Stage; b) support the global implementation of clean and green energy initiatives; c) meet growing lithium market demand; and d) become a mid-tier, low cost supplier of lithium, potassium nitrate, iodine and other strategic minerals, serving global clients in the energy, fertilizer and specialty chemical industries. Additional information regarding the Company can be found in our recent filings with the Securities and Exchange Commission ("SEC") as well as the information maintained on our website www.li3energy.com.
Forward-Looking Statements
Any statements contained herein which are not statements of historical fact may be deemed to be forward-looking statements, including, without limitation, statements identified by or containing words like "believes," "expects," "anticipates," "intends," "estimates," "projects," "potential," "target," "goal," "plans," "objective," "should", or similar expressions. The Company gives no assurances the assumptions upon which such forward-looking statements are based will prove correct. Forward-looking statements involve risks, uncertainties and assumptions, and are based on information currently available to us. Actual results may differ materially from those expressed herein due to many factors, including, without limitation: obtaining the necessary funding for the company's on-going operations; validation of the POSCO technology; obtaining and the issuance of necessary government consents; confirmation of initial exploration results; the Company's ability to raise additional capital for exploration; development and commercialization of the Company's projects; future findings and economic assessment reports; the Company's ability to identify appropriate corporate acquisition or joint venture opportunities in the lithium mining sector and to establish appropriate technical and managerial infrastructure; political stability in countries in which we operate; and lithium prices. For further information about risks faced by the Company, and its Maricunga Project, see the "Risk Factors" section of the Company's Form 10K, filed with the SEC on September 26, 2014. The Company undertakes no obligation to update any forward-looking statement contained herein to reflect events or circumstances which arise after the date of this release.
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SOURCE Li3 Energy, Inc.