Chile's Presidential Election Results 2017
Sydney, Dec 19, 2017 AEST (ABN Newswire) - Lithium Power International Limited (
ASX:LPI) (LTHHF:OTCMKTS) ("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 Limited (ASX:LPI) is a pure play lithium company with three distinct project regions to provide diversification. One is located in South America's brine region and three are in Australia's spodumene hard rock areas of Western Australia.
The primary focus is to develop of Chile's next high-grade lithium mine on the Maricunga Salar in an area known as the Lithium Triangle. The Company has also expanded its tenement holdings of lithium exploration prospects in Western Australia.
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