China Outmaneuvering Yanks, as Chile Moves to Nationalize Lithium Production
Beijing has a ‘serious first mover advantage’ over the lithium production in the hemisphere, analysts warn.
As President Biden leans further into his administration’s promotion of electric vehicles, the leftist government of Chile is nationalizing production of lithium and Communist China is edging America out of the hemisphere’s market for a mineral that is essential to those vehicles’ batteries.
The Chilean president, Gabriel Boric, announced Thursday a new lithium policy that demands “virtuous collaboration” between the state and the private sector over the extraction of lithium. The government, however, will maintain full control over the enterprise, he said.
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