Chile's President Gabriel Boric has stunned markets and EV makers by nationalizing the lithium industry overnight.
The weaponization of commodities in a world that is increasingly turning multipolar and where legacy trade links and commercial bridges are burning down metaphorically (and in some cases literally) is accelerating.
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 th...
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