Latin America

Judi Lynn

(160,649 posts) Fri Apr 21, 2023, 02:43 AM Apr 2023

Chile's Boric announces plan to nationalize lithium industry

Credit: REUTERS/Ivan Alvarado
April 20, 2023 — 09:11 pm EDT

Written by Alexander Villegas and Ernest Schneyder for Reuters

SANTIAGO, April 20 (Reuters) - Chilean President Gabriel Boric said on Thursday he would nationalize the country's lithium industry and create a separate state-owned company to produce the metal used to make electric vehicle batteries.

In announcing his long-awaited national lithium policy, Boric said that future lithium contracts would only be issued as public-private partnerships with state control. He added that the government would not terminate existing contracts with SQM SQMA.SN and Albemarle Corp ALB.N, but seek state participation before contracts expire.

https://www.nasdaq.com/articles/chiles-boric-announces-plan-to-nationalize-lithium-industry

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Chile's Boric announces plan to nationalize lithium industry (Original Post) Judi Lynn Apr 2023 OP

Chile leader to require state share in lithium extraction Judi Lynn Apr 2023 #1

Judi Lynn

(160,649 posts)

1. Chile leader to require state share in lithium extraction

Reply to Judi Lynn (Original post)

Fri Apr 21, 2023, 03:23 AM

Apr 2023

2 hours ago

SANTIAGO, Chile (AP) — President Gabriel Boric announced a plan Thursday to require private companies take Chile’s government on as a partner in the extration of lithium, which is in high demand around the world for use in electric batteries.

Boric, who spoke on a national media network, said the state will participate in the entire lithium production cycle in a “public-private collaboration” that the government will control.

“Any private company, whether foreign or local, that wants to exploit lithium in Chile must partner with the state,” he said.

Chile has the world’s third largest lithium reserves, at 9.6 million tons, behind Bolivia with 21 million and Argentina with 19.3 million, according to the U.S. Geological Survey. But Chile was the world’s second largest producer last year with an estimated 39,000 metric tons, after Australia, with 61,000 tons.

More:
https://apnews.com/article/chile-lithium-mining-stateprivate-partnership-86d3b6aabd35bea390c0ca3f2658425c

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