Wealth Minerals Partners with Indigenous Community for Lithium Development

• Wealth Minerals forms Kuska Minerals, a joint venture with the Quechua Indigenous Community.
• Kuska is the first mining project in Chile to integrate local community ownership.
• Marcelo Awad is elected as chairman of Kuska Minerals’ board.
• The project awaits a Special Lithium Operating Contract (CEOL) from the Ministry of Mining.
• Community representation in the board ensures local interests are prioritized.

Wealth Minerals Launches Kuska Minerals Subsidiary in Chile

Wealth Minerals Ltd. (OTCQB: WMLLF) has announced a significant advancement in its ongoing operations with the establishment of Kuska Minerals SpA. This new subsidiary is a partnership with the Quechua Indigenous Community of Ollagüe, aimed specifically at developing the Kuska lithium project located in Chile. This endeavor is particularly notable as it marks the first instance in which a mining project in Chile integrates local indigenous community into its ownership structure, allowing for shared development and benefits for the community. The newly formed board of directors held its inaugural meeting recently, during which Marcelo Awad was elected as chairman, and the community was represented by Victor Nina Huanca, highlighting a commitment to inclusivity.

CEOL Permit Pending and Exploration Plans

The company is currently awaiting the Special Lithium Operating Contract (CEOL) from the Ministry of Mining. This is critical because it follows a consultation process with the indigenous people that is currently underway. With the CEOL in hand, Kuska Minerals plans to kick off its second exploration campaign, and also aims to commence both a pre-feasibility study and an environmental impact assessment. These steps are essential for moving forward in a responsible manner that respects the community’s needs and the environmental standards required for such mining projects.

Community Representation and Environmental Commitment

Henk van Alphen, CEO of Wealth Minerals, expressed great satisfaction over the formation of the joint venture. He emphasized, “We are very pleased to see the JV with the Quechua Indigenous Community of Ollagüe become a reality… thus ensuring that the community directly benefits from the project in several ways.” Meanwhile, Víctor Nina Huanca has articulated the historical significance of this venture, noting how it allows the community to have a seat at the table and be a part of the decision-making process. The alliance looks to ensure that all actions abide by the community’s traditions and environmental concerns, maintaining respect for the local territory and its culture.

Overall, the establishment of Kuska Minerals SpA represents a major step forward for Wealth Minerals and the Quechua Indigenous Community in Chile. By forming a partnership that emphasizes community ownership and environmental stewardship, the project seeks to balance economic development with respect for indigenous rights and ecological integrity. With regulatory approvals on the horizon, both the company and the community express optimistic anticipation for the next phases of development.