Mexico Nationalizes D'Anconia Copper -Oops, That Was 1957 Fiction. Reality - 2023: Chile Nationalizes All Lithium Mining. (Chile Has World's Largest Lithium Deposits.)

Posted by freedomforall 10 months, 2 weeks ago to Business
12 comments | Share | Flag

Excerpt:
"Chile's President Gabriel Boric stunned the world on Thursday when he said he would nationalize the country's lithium industry, the world's second largest producer of the metal essential in electric vehicle batteries, to boost its economy and protect its environment.

The shock move in the country with the world's largest lithium reserves would in time transfer control of Chile's vast lithium operations from industry giants SQM and Albemarle to a separate state-owned company.



The nationalization poses a fresh challenge to electric vehicle (EV) manufacturers scrambling to secure battery materials, as more countries look to protect their natural resources. Mexico nationalized its lithium deposits last year, and Indonesia banned exports of nickel ore, a key battery material, in 2020."
SOURCE URL: https://www.zerohedge.com/markets/chile-stuns-markets-and-ev-makers-nationalizing-lithium-industry-overnight


Add Comment

FORMATTING HELP

All Comments Hide marked as read Mark all as read

  • Posted by $ Abaco 10 months, 2 weeks ago
    Boric, if I remember correctly, is a Socialist. This is right out of the book, isn't it? Chile...a place where I was considering getting some real estate as my escape pod from what I was sure was going to be a Hilary victory in 2016. Such a beautiful place.
    Reply | Mark as read | Best of... | Permalink  
    • Posted by $ 25n56il4 10 months, 1 week ago
      Interestingly my BFF has a son and daughter in law who have been living in Chili for years. They are moving to Houston because they are both engineers and have been offered employment in Houston. Never thought they'd leave Chili but money is attractive.
      Reply | Mark as read | Parent | Best of... | Permalink  

FORMATTING HELP

  • Comment hidden. Undo