In terms of what we’re doing in the company, whether that’s advancing and maximum speed in the work of process design, where we’re even better than expected, I think, today as we were two months ago, and the engineering technology definitions are working very hard on to develop a complete environmental survey of the project that is very, very complex to it. The projects, as you know, is big project, it’s very intensive, where, that’s the reason why we’re so excited. It’s a very good one, but requires a high level of knowledge and experience. And SPM, we’re convinced that with our 25 years of experience in Salar de Atacama. We have the human team’s experience the commitment and of course, the resources to successfully phase the project. We hope to complete all the necessary definitions to submit the final project to the environmental assessment, we hope is going to be viewed in second half of 2024.
In Chile as you may know complete progress is required. In all the definitions of the project prior to being submitted to the environmental evaluation. It’s important to consider I think, at the end that this project implies operation commitment that go far beyond the year 2030. So, working in agreement, and together with core so its necessary prior to its presentation to an environmental authority for the evaluation, we all agree that the development of the Salar Futuro project must be carried out in a way that is positive for the second region, positive for the communities, positive for Chile and positive for rescan. Currently, everybody know and probably you know, that is a public knowledge that the government is working on defining a national lithium policy, we expect that it’s going to be this national lithium policy during this year.
Of course, we known for everyone and this is going to be the start point in order to move forward in Salar Futuro. But we are moving as fast as we can today. We are going to be ready at the end of 2024 and we have some times in order to have a national agreement in order to move forward.
Unidentified Analyst : Okay, thanks for that. And then just want one more, if I may. So, do you guys have any views on the various commentary that’s been coming out of the CATL in China for the future lithium pricing?
Ricardo Ramos: Yes. I will not comment about the decisions of other companies. What I can only say is that in our case, I will again emphasize that in our case, we believe that the direction of the price is totally depending on the supply demand balance. So, this is how we are structuring our contracts with the customers following markets. And I think this is the best solution.
Operator: Our next question will come from Lucas Ferreira with JP Morgan. You may now go ahead.
Lucas Ferreira : Yes, thank you. My first question is about the lithium market balance. So, looking at your expectations of this, of the demand growing 20%. I can be wrong, but I think it’s more of a conservative side when I look at the views of other lithium producers. So how do you see the supply and demand balance shaping up this year? If you think that increasing liquidity like capacity in China could put this market in some sort of a surplus to share, or if you think the market remains on a deficit. So pretty much how you see reconcile this 20% demand growth expectations with the supply, you see coming to the market? And the second question is more of a follow-up on the CapEx guidance. Because when I look at the number that you guys provided in the investor day, in September.
