American Lithium's Falchani Project in Peru Moves Forward After Court Ruling
American Express's Falchani project in Peru is moving forward after a Peruvian Supreme Court ruling. The company is set to meet with shareholders on 7 October 2025 to discuss progress and potential investment from Peru and abroad, including Germany.
The court's decision cleared the way for development by rejecting claims from INGEMMET and MINEM regarding concession ownership. American Express has increased its investment by 22% to $847 million, demonstrating confidence in the project's potential.
The Falchani site, the sixth-largest hard rock lithium deposit globally, is expected to produce battery-grade lithium carbonate post-2028. A preliminary economic assessment (PEA) estimates an annual output of 63,000 tonnes of lithium concentrate over 33 years, with a base case capital cost of $1.97 billion. American Express plans to use additional funds to construct a refinery at the site in Puno's Andean region, with construction slated for 2027.
With the legal dispute resolved and increased investment, American Express's Falchani project is poised for growth. The meeting with shareholders in October will discuss further progress and potential international investment, with German companies among those showing interest.
