- Wealth Minerals (OTCQB: WMLLF) has officially established Kuska Minerals, a pioneering joint venture with the Quechua Indigenous Community of Ollague to develop the Kuska lithium project in Chile.
- The board, including Marcelo Awad as chairman, held its first meeting, marking a historic integration of local community ownership in Chilean mining projects.
- Kuska Minerals awaits a Special Lithium Operating Contract (CEOL) to advance exploration and feasibility studies, with community involvement ensuring environmental considerations.
Wealth Minerals Ltd. (OTCQB: WMLLF) has officially announced the formation of its new subsidiary, Kuska Minerals SpA, in collaboration with the Quechua Indigenous Community of Ollague. This joint venture aims to advance the Kuska lithium project located in the Salar de Ollagüe, Antofagasta Region, Chile. A significant milestone has been reached as it marks the first mining project in Chile to integrate indigenous community ownership.
The newly formed board of Kuska Minerals convened for its initial meeting, electing Marcelo Awad as chairman. Other board members include Hendrik van Alphen, Francisco Lepeley, Stephen Foot, and Victor Nina Huanca, the latter representing the Ollague Community. This structure ensures that the local community has direct involvement and benefits from the project.
To further progress, Kuska Minerals is awaiting the issuance of a Special Lithium Operating Contract (CEOL) from the Ministry of Mining, which is contingent upon an indigenous consultation process. Once secured, the company plans to embark on its second exploration campaign, initiate a pre-feasibility study, and conduct an environmental impact assessment.
The Kuska Project covers over 10,200 hectares and has shown promising resource estimates, including 741,000 tonnes of indicated Lithium Carbonate Equivalent (LCE). The community-backed initiative is on track to leverage Wealth Minerals' strategic focus on lithium project development, looking to capitalize on favorable market dynamics and ensure sustainable development respecting local environmental and cultural values.
