Chile to take control of lithium industry.
Chile's President Gabriel Boric 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. Lithium-ion batteries are key components for most consumer electronics and electric vehicles, and companies are seeking alternate sources as the global lithium market is facing a shortage of raw material supply.
