Chilean far-left President Gabriel Boric announced plans to nationalize the country’s lithium industry.
Hours before Boric’s announcement of his plans to nationalize Chile’s lithium industry, Chile’s Production Development Corporation
Boric made no mention of China, nor its continued influence and presence on the country’s industries, during his announcement speech. Presently, the exploitation of lithium in Chile is being carried out by two companies in the salt flats located at the northern Chilean region of Atacama: The American Albemarle company, whose lease is set to expire in 2043, and Chilean-basedChina’s Tianqi Lithium Corporation is SQM’s second-largest shareholder, havingBoric pointed out in his speech that the current lithium mining contracts will be respected but did not rule out the possibility of the to-be-established state company entering...
Boric remarked that the country has more than 60 salt flats in addition to Atacama’s salt flats, where one third of the world’s lithium global market is produced.
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