Wealth Minerals, Voith Hydro Join Forces for Chile Pabellón Lithium Project

Wealth Minerals Ltd. has signed a Memorandum of Understanding with Voith Hydro to jointly develop the Pabellón Lithium Project in northern Chile, collaborating with the Quechua Indigenous Community of Ollagüe and other partners. Voith Hydro will acquire a 5% stake in the project, which is managed through Kuska Minerals SpA, where Wealth Minerals holds 95% and the Quechua community 5%. The partnership aims to secure a Special Lithium Operating Contract (CEOL) to enable lithium extraction, potentially at the Cerro Pabellón thermal power station or via a separate lithium recovery operation. The project will utilize Direct Lithium Extraction (DLE) technology, an innovative method that supports efficient lithium recovery and aligns with global renewable energy goals. Despite the promising strategic collaboration, Wealth Minerals faces financial challenges, including losses and liquidity issues, which currently weigh down its stock performance. Both companies emphasize the importance of combining technical expertise and indigenous partnership to advance lithium production critical for battery-based energy storage and the energy transition.