In Chile, President Gabriel Boric announced he is moving to nationalize his country’s lithium industry.

President Gabriel Boric: “Chile has one of the largest lithium reserves of the world. It is a mineral that, being in bus and electric cars’ energy storage batteries, is key in the fight against the climate crisis and in the fight against climate change. This is an opportunity for economic growth that will be difficult to beat in the short term.”

Any private companies extracting lithium will have to partner with the state, which will hold majority stakes in new production contracts. This comes as environmental activists this week protested Chile’s approval to extend Anglo American’s copper mining activities in the Andes, which activists say threatens a nearby glacier and the area’s water supply.