Chile sends chills through lithium market

Chile has moved to seek greater control over its lithium industry. The plans, announced by the country’s president Gabriel Boric, fall short of full scale nationalisation, but do envisage majority state-owned partnerships with private companies for the exploitation of lithium deposits. Going forward, the country’s two lithium miners, Chile’s SQM and the US mining giant Albermarle, must negotiate with state-owned copper producer Codelco as regards future state participation in their existing concessions.