  State-of-the-art quantum chemical methods are applied to the study of the
multiorbital correlated electronic structure of a Fe-As compound, the recently
discovered LiFeAs. Our calculations predict a high-spin, S=2, ground-state
configuration for the Fe ions, which shows that the on-site Coulomb
interactions are substantial. Also, orbital degeneracy in the (xz,yz) sector
and a three-quarter filling of these levels suggest the presence of strong
fluctuations and are compatible with a low metallic conductivity in the normal
state. The lowest electron-removal states have As 4p character, in analogy to
the ligand hole states in p-type cuprate superconductors.
