Chile’s president moves to bring lithium under state control

Chile's president Gabriel Boric proposes to bring the lithium industry under state control and impose stricter environmental rules, creating uncertainty for investors in the world's second-largest producer of lithium.

April 21, 2023 . 8:09 PM

1 min read

Chile's president Gabriel Boric unveils plans to bring the lithium industry under state control and impose stricter environmental rules.
The proposal envisages majority state-owned partnerships with private companies for the exploration and production of lithium deposits.
The two existing lithium miners, Chile’s SQM and the US company Albemarle, are required to negotiate unspecified state participation in their existing concessions.
The lithium plan needs approval in Congress, where Boric lacks a majority.
Chile is the world’s largest proven reserves of lithium, but political uncertainty and environmental hurdles have thrown large mining projects into doubt.