With global demand rising for Lithium, Chile is positioning itself as the dominant market leader in the mining and distribution of the critical component for the EV battery movement.
The government of Chile announced in April that it planned to nationalize its lithium industry, following a move made previously in Mexico. Bolivia, thought to contain massive deposits of unexplored lithium reserves, has suggested the development of a Latin American “Lithium Triangle” along with Argentina.
According to GreenBiz, the move toward nationalization will not affect existing relationships with major Lithium suppliers, including Albemarle Corp and SQM. But the move could force public-private partnerships in the future.
Albemarle corporation reversed course in May, moving from $172 per share to $215. SQM moved upward from $64 to $71.
This hemispheric push could reduce the world’s demand for lithium from China and Australia. It could also help break up supply chain issues for this critical element.
Stay tuned to Global Investment Daily as we monitor events in the lithium mining industry.
