Latin America could derail the green revolution

Latin America is remarkable in the speed in which it is nationalizing metal production. This is the result of several recently elected left wing governments that have gained power.
Over half of the world’s lithium is located in Latin America, as well as 40% of the copper and 25% of the nickel. All of these metals are critical for the production of electric vehicles.
In Chile, the left wing president is nationalizing lithium production through the creation of a state owned company. President Boric will force primate companies into joint ventures with the state firm.
Mexico’s senate has cut concessions for private mining companies from 50 years to 30. Mexico’s President Obrador is nationalizing the country’s lithium reserves.
The governments of Argentina, Bolivia, Brazil, and Chile are all colluding to form a lithium OPEC to control global prices similar to how the OPEC cartel monopolizes oil production and supply.
At this point, the entire Bolivian lithium industry is controlled and run by the state.
Nationalism has a bad history in Latin America. Mexico’s state oil firm is the most indebted oil company in the world. Venezuela’s state oil company was a key part of the country’s collapse. Brazil’s oil company is infamous as being part of the largest corruption scandal in the whole of Latin America.
Works Cited:
https://www.economist.com/the-americas/2023/05/02/the-green-revolution-will-stall-without-latin-americas-lithium
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