Chile to take control of lithium industry.

Chile's President Gabriel Boric announced plans to 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 move would transfer control of Chile's vast lithium operations from industry giants SQM and Albemarle to a separate state-owned company. The government would not terminate current contracts, but future lithium contracts would only be issued as public-private partnerships with state control. State-owned Codelco, the world's largest copper producer, will be tasked to find the best way forward for government participation in extracting lithium.