Chilean President Gabriel Boric's pitch last week to enshrine greater state control over lithium is emerging as the latest test for the resource nationalism embraced by Latin America's ascendant left but which has proven tough to implement in practice.
to give the government a majority stake in all future lithium projects faces an uncertain path in Congress, its mere introduction shook one of the mining industry's most lucrative corners.
"This is seen as an opportunity to ensure direct revenues to the state just as many countries decided to make the decision to nationalize oil in a different era," he added. Lopez Obrador, who reveres the country's landmark 1938 oil nationalization, justified his policy as its logical extension. He invoked past abuses at the hands of colonial masters and more recent corporate titans, arguing that only the government can prevent exploitation and ensure broadly-distributed benefits.
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