January 28, 2010 - (SyndicateMyNews) - Following the presidential election in Chile of Sebastian Pinera, the mineral-rich South American nation is seen as being more proactive towards foreign mining concerns - especially smaller companies.

Reuters noted in a January 18th story that, "In his government program Mr. Pinera promised to sell part of state giant Codelco, the world's top copper miner, to improve efficiency and [better compete with slimmer private miners]."

TSX Venture-listed Pan American Lithium Corp. (TSX.V: PL, OTC: PALTF) shares soared to a record hi of 0.82 CDN Wednesday on heavy volume. The Company, which was featured in an AXcess News story on January 13th relating to a letter of intent to invest in Pan American Lithium's Mexico brine metals recovery project from POSCO (NYSE: PKX; KS: 005490).

This morning, Pan American Lithium announced that it was moving forward with its Chilean project to develop an inferred resource estimate for lithium content compliant with National Instrument 43-101 of at its 100% owned Laguna Verde salar in Atacama Region III, Chile. The Study will determine the levels of lithium from the lake brine. Pan American's POSCO project involves metals recovery from brines as well. POSCO, the world's 4th largest steel-maker, says it is doubling its investments in 2010 with a view towards increasing its holdings worldwide.

Should Pan American Lithium's Chile brine report come back positive, POSCO may consider becoming an extended partner on PL's Chilean project considering the stability President Pinera brings to the South American nation, though neither POSCO or Pan American will comment.