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☆ Winter heat wave in Chile offers 'window' to warmer world
▼ + stars: | 2023-08-03 | by ( ) www.reuters.com time to read: +2 min

SANTIAGO, Aug 3 (Reuters) - A winter heat wave bringing historically high temperatures to Chile is a "window" to an increasingly warm future, according to scientists. "Having temperatures of 37 degrees (99 degrees Fahrenheit) in the middle of southern winter is extraordinary," said Raul Cordero, a climatologist at the University of Santiago. He added that while it's often hard to establish a connection between extreme weather events and climate change, temperatures in parts of Chile have been breaking records year after year. "Winter high-temperature events do affect the spring flow rate that can be expected from melt," Jacques said. According to the latest service reports, high temperatures in the north and center of the country will last all week.

Persons: SANTIAGO, Martin Jacques, Raul Cordero, Jacques, El Nino, Jorge Vega, Natalia Ramos, Alexander Villegas Organizations: Southern, Chile's University of Concepcion, University of Santiago, Thomson Locations: Chile

☆ Peru economy shrinks for two straight quarters, minister denies recession
▼ + stars: | 2023-08-01 | by ( ) www.reuters.com time to read: +2 min

Aug 1 (Reuters) - Peru's finance minister said on Tuesday that preliminary data showed the country's economy shrank in June, marking two consecutive quarters of contraction, which is a common definition for a recession. Finance Minister Alex Contreras told reporters he expects economic growth to return in July after preliminary data showed that the economy shrank by about 1% in June. That followed official data showing that the South American country's economy contracted by 0.43% in the first quarter. Despite the data, Contreras asserted that the economy is not in recession while heaping blame on "obsessed" analysts who root against the government for any suggestion to the contrary. "The economy isn't in a recession and it hasn't entered into a recession," said Contreras, adding that economic recessions typically involve "prolonged periods" of downturn, though he did not provide a specific definition.

Persons: Alex Contreras, Contreras, hasn't, jailing, Pedro Castillo, Dina Boluarte, David Alire Garcia, Alexander Villegas, Sandra Maler Organizations: Thomson Locations: Nino

☆ Argentina won't use 'one dollar' of reserves to repay IMF, says Massa
▼ + stars: | 2023-07-31 | by ( ) www.reuters.com time to read: +1 min

BUENOS AIRES, July 31 (Reuters) - Argentina's Economy Minister Sergio Massa said on Monday the country will not use "a single dollar" of its own reserves to make a $2.7 billion repayment to the International Monetary Fund (IMF) due this week. Argentina, which has been grappling with a severe economic crisis with sky-high inflation and falling central bank reserves, needed to avoid a default with the Fund, with maturities of $2.6 billion due on Monday and almost $800 million due on Tuesday. "I want to bring you peace of mind - Argentina is not going to use a single dollar of its reserves to pay today's maturity," Massa said in a televised speech. The challenge for Argentina now, he added, is to "continue to take care of the (foreign currency) reserves while maintaining the economic activity levels." Reporting by Eliana Raszewski and Gabriel Araujo; Editing by Bernadette Baum and Alexander VIllegasOur Standards: The Thomson Reuters Trust Principles.

Persons: Sergio Massa, Massa, Eliana Raszewski, Gabriel Araujo, Bernadette Baum, Alexander VIllegas Organizations: International Monetary Fund, Development Bank of Latin America, CAF, IMF, Thomson Locations: BUENOS AIRES, China, Buenos Aires, Argentina

☆ It's Hot Girl Walk versus Hot Girl Walk after TikTok trend-starter says a Florida company is infringing on her trademark
▼ + stars: | 2023-07-22 | by ( Hannah Getahun | ) www.businessinsider.com time to read: +3 min

Hot Girl Walk is suing a company formerly known as Hot Girl Walk Miami for copyright infringement. The lawsuit claims that Hot Girl Walk Miami created confusion between the two brands. The Hot Girl Walk trend, which originated on TikTok, encourages four-mile outdoor walks for women. Hot Girl Walk asks that the pair be permanently banned from selling merch with the Hot Girl Walk Miami branding. The company also asks to recoup any profits made by their competitor while selling Hot Girl Walk Miami merchandise.

Persons: Monica Villegas, Lucia Di Tore, Lind, Amelia Lind, Villegas, Di Tore Organizations: Service, Miami, Walk Locations: Miami, Wall, Silicon, Delaware, Florida, Walk Miami

☆ Argentina's cabinet chief says harvest should bring economic relief
▼ + stars: | 2023-07-21 | by ( Nicolás Misculin | ) www.reuters.com time to read: +3 min

[1/2] Argentina's Cabinet Chief and vice presidential pre-candidate Agustin Rossi gestures in his office during an interview with Reuters, at the Casa Rosada Presidential Palace, in Buenos Aires, Argentina July 21, 2023. REUTERS/Agustin MarcarianBUENOS AIRES, July 21 (Reuters) - Argentina's financial crisis, which has been marked by exchange rate volatility and soaring inflation, should start abating in November and December, with large foreign currency inflows from the wheat harvest, cabinet chief Agustin Rossi told Reuters on Friday. Argentina's prolonged financial crisis has been aggravated by a ferocious drought that reduced crucial agricultural exports by an estimated $20 billion this year. "(Inflation) does not go down with abrupt devaluation... We do not believe that this is necessary in Argentina," Rossi said. "We are optimistic, we believe that we will find a way," Rossi said of the IMF talks.

Persons: Agustin Rossi, Agustin Marcarian, " Rossi, Nestor Kirchner, Rossi, Sergio Massa, Alberto Fernandez, Nicolás Misculin, Alexander Villegas, Rosalba O'Brien Organizations: Argentina's, Reuters, Casa, REUTERS, Peronist, International Monetary Fund, IMF, Thomson Locations: Buenos Aires, Argentina, Agustin Marcarian BUENOS AIRES, Vaca

☆ How Chile's progressive new plan to mine lithium faces Indigenous hurdles
▼ + stars: | 2023-07-20 | by ( Alexander Villegas | ) www.reuters.com time to read: +8 min

In interviews with Reuters, some community leaders said they would demand more profits be channeled their way, while others said they would resist any new lithium mining at all. Boric's plan envisions expanding mining with public-private partnerships controlled by a new state lithium company. Both Espindola and Mondaca said a majority of community members oppose expanded lithium mining in the region. It said it takes relationships with Indigenous communities seriously and that is why Boric met with them in person. Yermin Basques, president of Toconao, said he was pushing for the community to receive a greater share of the profits and be a "strategic partner" in the state lithium company.

Persons: Alexander Villegas, Ivan Alvarado, Gabriel Boric, Boric, Francisco Mondaca, SQM, it's, Mondaca, Cristian Espindola, Espindola, Toconao, Albemarle, Alonso Barros, Rolando Humire, Humire, Mauricio Lorca, Adam Jourdan, Rosalba O'Brien Organizations: Reuters, National Reserve, REUTERS, Atacama Indigenous Council, BMW, NASA, National, University of Atacama, Thomson Locations: Antofagasta region, Chile, Santiago, Atacama, Albemarle, Los, Chilean, Basques

☆ Peru protesters take to streets in new round of anti-government marches
▼ + stars: | 2023-07-19 | by ( Marco Aquino | ) www.reuters.com time to read: +3 min

LIMA, July 19 (Reuters) - Thousands of anti-government protesters took to the streets in Peru on Wednesday, part of a new round of marches organized by groups opposed to President Dina Boluarte's eight-month-old administration, as police deployed to guard government offices. Many Peruvians accuse Boluarte and her allies of illegitimately removing and jailing her leftist predecessor Pedro Castillo, which led to angry and sometimes violent protests through last March that claimed 67 lives. Some 24,000 police officers were deployed throughout the country, according to officials, as authorities braced for a so-called "third takeover of Lima." Ground transport officials said protesters blocked six highways by early afternoon on Wednesday, mostly in southern Arequipa and Cusco regions. Peru, the world's second-largest copper producer, could also face disruptions along its key mining corridor, where according to environmental groups, communities will support the protests.

Persons: Dina Boluarte's, Boluarte, Pedro Castillo, Roger Perez, Jorge Pizarro, Marco Aquino, Sarah Morland, Alexander Villegas, Will Dunham, Josie Kao Organizations: Local, Police, Congress, Thomson Locations: LIMA, Peru, Lima, Arequipa, Cusco, Huancavelica, Puno

☆ Peru's Boluarte calls protests 'threat to democracy,' key mining zones to back them
▼ + stars: | 2023-07-18 | by ( ) www.reuters.com time to read: +1 min

[1/2] Demonstrators participate in a march called by Peru's General Workers Union against President Dina Boluarte's administration, in Lima, Peru, March 9, 2023. REUTERS/Alessandro Cinque/File PhotoLIMA, July 18 (Reuters) - Peru's President Dina Boluarte said on Tuesday that anti-government protests expected to begin this week are "a threat to democracy and the rule of law," seven months after the ousting of her predecessor launched months of deadly protests. Key mining areas in Peru are planning to support a new round of anti-government protests, said Jose de Echave, the head of environmental NGO CooperAccion, who added that groups of miners from the Andean country's key copper mining corridor are set to arrive in Lima. Peru's is the world's second-largest copper producer and its mining corridor in Condoroma, Cusco, is used by MMG's . Reporting by Marco Aquino; Writing by Sarah Morland; Editing by Alexander Villegas, William MacleanOur Standards: The Thomson Reuters Trust Principles.

Persons: Dina Boluarte's, Alessandro Cinque, LIMA, Dina Boluarte, Boluarte, Pedro Castillo, Jose de Echave, Peru's, Marco Aquino, Sarah Morland, Alexander Villegas, William Maclean Organizations: Peru's General Workers Union, REUTERS, HK, Thomson Locations: Lima , Peru, Peru, Lima, Condoroma, Cusco

☆ Chile zoo celebrates birth of critically endangered Somali Wild Ass
▼ + stars: | 2023-07-06 | by ( ) www.reuters.com time to read: +2 min

[1/5] An African Somali wild foal, which was born in captivity, is shown in its enclosure for the first time to the public, as part of a conservation project of this animal in danger of extinction, at the Buin zoo, Santiago, Chile July 6, 2023. REUTERS/Ivan AlvaradoSANTIAGO, July 6 (Reuters) - A rare Somali Wild Ass foal was born in a Chilean zoo, sparking hope for a critically endangered species with less than 200 mature individuals left worldwide. The Buin Zoo in the southern outskirts of Santiago is taking part in an international effort to help restore the Somali Wild Ass population that the International Union for Conservation of Nature (IUCN) has classified as critically endangered. The remaining Somali Wild Ass population, according to the IUCN, is left in Eritrea and Ethiopia with the largest recorded subpopulation being just 17 individuals. "The bones are used in soups that supposedly have medicinal characteristics that hasn't been scientifically proven, but it's practically brought on the extinction of a beautiful species," Idalsoaga said.

Persons: Ivan Alvarado SANTIAGO, We're, Ignacio Idalsoaga, Idalsoaga, it's, Alexander Villegas, David Gregorio Our Organizations: REUTERS, Buin Zoo, International Union for Conservation of Nature, IUCN, Reuters, Thomson Locations: African Somali, Buin, Santiago, Chile, Chilean, Eritrea, Ethiopia, Somalia, Ita

☆ Chile's Codelco must kick-start lithium industry while reviving copper output
▼ + stars: | 2023-06-19 | by ( Fabian Cambero | ) www.reuters.com time to read: +4 min

At the same time, Codelco wants to boost its output of copper which has slumped to its lowest in a quarter-century. Some analysts have questioned whether the copper company with no experience as a lithium miner can tackle both challenges at once. But industry insiders told Reuters Codelco will probably focus its own resources on copper while negotiating contracts for lithium operations and letting other miners do the work. The sources said the lithium strategy was being led by executives including Jaime San Martin, manager of new business development, known by some within Codelco as "lithium man". "But I think lithium is an excellent opportunity for Codelco to help them navigate their very difficult copper situation."

Persons: Ivan Alvarado, SANTIAGO, Gabriel Boric, Codelco, Reuters Codelco, Albemarle, Jaime San Martin, Alejandro Rivera, Maximo Pacheco, Minera, SQM, Pacheco, Juan Carlos Guajardo, Plusmining, Guajardo, Andre Sougarret, Fabian Andrés Cambero, Alexander Villegas, Adam Jourdan, David Gregorio Our Organizations: REUTERS, Reuters, Tesla, BMW, Finance, Salares, Thomson Locations: Chile, Australia, Albemarle, Indonesia, Freeport, McMoRan, Chile's, Berlin, Beijing, Codelco, Santiago

☆ Scientists discover duck-billed dinosaur roamed Chile 72 million years ago
▼ + stars: | 2023-06-16 | by ( ) www.reuters.com time to read: +2 min

Scientists have dubbed the dinosaur Gonkoken nanoi and say it weighed up to a metric ton and could grow to 4 meters (13.12 feet) in length according to the study published in Science Advances. In 2013, an expedition led by the Chilean Antarctic Institute (INACH) discovered fragments of yellowish bones at the bottom of a hillside close to the major tourist destination Torres del Paine in Patagonia. "(The) Gonkoken nanoi is not an advanced duck-billed dinosaur, but rather an older transitional duck-billed lineage: an evolutionary link to advanced forms," said Alexander Vargas, another study author. "Gon" means similar or similar to and "koken" means wild duck or swan. Reporting by Fabian Andres Cambero; Writing by Alexander Villegas; Editing by Sandra MalerOur Standards: The Thomson Reuters Trust Principles.

Persons: Torres del, Read, del, Jhonathan Alarcon, Alarcon, Alexander Vargas, Mario, Fabian Andres Cambero, Alexander Villegas, Sandra Maler Organizations: El valle del rio, Torres del Paine, Chilean Antarctic Institute, del Paine, Thomson Locations: Chilean, El valle del, Chinas, Torres, Magallanes, Antarctic, Chile, SANTIAGO, Patagonia

☆ Chile's conservative assembly begins drafting new constitution
▼ + stars: | 2023-06-07 | by ( ) www.reuters.com time to read: +1 min

[1/5] Chile’s President Gabriel Boric sings the national anthem during the first session to draft a new constitution, in Santiago, Chile, June 7, 2023. REUTERS/Ivan AlvaradoSANTIAGO, June 7 (Reuters) - A new Constitutional Council dominated by conservative parties in charge of drafting Chile's new constitution began its official duties on Wednesday, in the second attempt to replace the current text that dates back to the Augusto Pinochet dictatorship. The new process will be shorter and more limited than the previous one, which was marred by controversies surrounding extreme proposals and assembly members. A small number of protesters from opposing political views amassed outside the National Congress building in Santiago. Some oppose Boric and the need for a new constitution while others oppose the new right-wing council.

Persons: Gabriel Boric, Ivan Alvarado SANTIAGO, Augusto Pinochet, it's, Boric, Natalia Ramos, Alexander Villegas, David Gregorio Our Organizations: REUTERS, Constitutional Council, National Congress, Thomson Locations: Santiago , Chile, Santiago

☆ Chile's Boric to insist on shelved tax reform bill by end of July
▼ + stars: | 2023-06-01 | by ( ) www.reuters.com time to read: +2 min

[1/10] Chile's President Gabriel Boric gestures on the day of his annual speech at the National Congress, in Valparaiso, Chile June 1, 2023. REUTERS/Rodrigo GarridoSANTIAGO, June 1 (Reuters) - Chilean President Gabriel Boric said on Thursday his government will insist on pushing through a tax reform bill that was shelved by Congress earlier this year. "Everyone in this room knows, that neither this government or any other, can advance responsibly in making these rights a reality without tax reform." The government has also seen key parts of its agenda, like tax reform bill shelved by Congress in March, stalled by a divided legislature. During his speech, Boric also announced that the government will send a bill to Congress this year seeking bids for large scale energy storage requiring $2 billion in investments.

Persons: Gabriel Boric, Rodrigo Garrido SANTIAGO, Boric, We've, Alexander Villegas, Fabian Cambero, Alistair Bell Organizations: National Congress, REUTERS, Thomson Locations: Valparaiso, Chile, Latin America

☆ You Shouldn’t Squish These Bugs
▼ + stars: | 2023-05-26 | by ( Victoria Gomelsky | ) www.nytimes.com time to read: +1 min

BEVERLY HILLS, Calif. — “Bonkers About Beetles.” “Innumerable Insects.” “Bugs: A Pop-Up Book.” The volumes that line the shelves of the jewelry designer Daniela Villegas’s home in this part of greater Los Angeles underscore what is obvious to anyone who ventures inside: She is passionate about pests. Thousands of specimens — of the six, eight- and 100-plus-leg varieties — hang in frames on the walls, are displayed in bell jars on the shelves and lie beneath the glass atop her oversized coffee table. Much of the collection was acquired at bug fairs and is shared with her husband, the furniture designer Sami Hayek (Salma’s younger brother). It is likely to make visitors think they have wandered into the entomology section of a natural history museum, or rather, its deluxe gift shop. The eccentric décor includes a stuffed armadillo adorned with its own gemstone bracelet; a wicker table in the shape of a grasshopper, topped with a crab sculpture; and a collection of Ms. Villegas’s signature Khepri rings, honoring the scarab-face god of ancient Egypt.

☆ 'Queen Charlotte' star Golda Rosheuvel said she 'cried' after hairstylists made her feel seen. Here are 17 Black celebrities who faced hair discrimination on set.
▼ + stars: | 2023-05-14 | by ( Lauren Edmonds | Pauline Villegas | ) www.businessinsider.com time to read: +1 min

Golda Rosheuvel, who plays the titular role in Netflix's "Queen Charlotte," said she "cried" and "got emotional" after hairstylists made her feel seen as a person of color for the first time. Golda Rosheuvel and India Amarteifio as Queen Charlotte. "I remember my initial chats with hair and makeup and being really really shocked, actually, that they wanted to just tease my own hair out and have that as kind of the front line of the wig." The attention to detail among the "Queen Charlotte" crew made Rosheuvel realize how Black hair is an afterthought on some sets. But this character is being seen through these ideas, hair and makeup and costume and how the show looks."

Persons: Golda Rosheuvel, Charlotte, hairstylists, Queen Charlotte, Netflix Rosheuvel Organizations: Netflix Locations: India

☆ Chile's firefighting goats protect a native forest from deadly blazes
▼ + stars: | 2023-05-14 | by ( Juan Gonzalez | ) www.reuters.com time to read: +2 min

The goats have already saved the native forest of the Bosques de Chacay once, preventing the park from being consumed by February forest fires - fueled by heatwaves and a punishing drought - that left dozens dead, thousands injured and almost 440,000 hectares destroyed in south-central Chile. The technique, also used in Portugal and Spain, relies on grazing goats to control dry pastures and other vegetation that fuel forest fires in the summer. Cruces started the project after deadly wildfires in 2017. Her flock has since grown from 16 goats to 150 and she hopes to inspire others to follow suit. "These animals can help us a lot," Di Napoli said, adding that other organizations should "evaluate where it can be applied, find where there's fuel and have the goats eat it."

☆ Colombia's Avianca backs down from Viva Air merger
▼ + stars: | 2023-05-13 | by ( ) www.reuters.com time to read: +1 min

BOGOTA, May 13 (Reuters) - Colombia's flagship airline Avianca is backing down from a merger with Viva Air, blaming conditions set by the country's aviation regulator, the company announced Saturday. In a statement, Avianca said conditions set by the regulator "would not allow Viva to be a financially and operationally viable airline," and also put Avianca's stability at risk. Colombia's aviation regultaor did not immediately respond to a request for comment. Colombia's aviation regulator approved the merger in late April after repeated delays, with the civil aviation authority objecting to the deal last November, before annulling and reopening the process in January after citing procedural irregularities. Amid the limbo, Viva Air abruptly suspended operations in late February, leaving passengers stranded in airports across the country.

"This is the right's best chance for people to pick a Pinochet constitution without Pinochet's signature," said Patricio Navia a political scientist at New York University. "The political climate in Chile isn't the same as in 2019 or 2020," said political analyst Cristobal Bellolio. An estimated 3,200 Chileans were murdered and another 28,000 tortured by the state during Pinochet's rule. Many of the victims were affiliated with the socialist government of Salvador Allende, who was deposed in a 1973 coup. "The issue is that if it's more right then Pinochet's constitution, people are going to reject it," Navia added, who added the loss for Boric left the leader who once promised to bury Chile's market-led model sorely wounded.

☆ Chile right-wing parties win majority in vote to draft new constitution
▼ + stars: | 2023-05-08 | by ( ) www.reuters.com time to read: +3 min

[1/4] A citizen casts their vote at a polling station during elections for a new assembly to draft constitution, at the Estadio Nacional, in Santiago, Chile April 7, 2023. REUTERS/Ivan AlvaradoSANTIAGO, May 7 (Reuters) - Chilean right-wing parties won a majority of votes on Sunday to elect advisers to draft a new constitution, marking a sharp shift from a progressive majority that drafted a failed first constitutional rewrite. With 95.13% of ballots tallied, Chile's Republican Party, led by former conservative firebrand presidential candidate Jose Antonio Kast, secured nearly 35% of the vote. A separate coalition of traditional right-wing parties gained just over 20% of the vote, while President Gabriel Boric's left-wing coalition garnered about 29%. "I want to invite the Republican Party, that's won an unquestionable majority, to not make the same mistakes we made," Boric said.

☆ Migrants stranded on Chile-Peru border repatriated to Venezuela
▼ + stars: | 2023-05-07 | by ( ) www.reuters.com time to read: +1 min

[1/3] Undocumented migrants from Venezuela who were in limbo at Chile-Peru border, stand at the airport while they board a special homecoming flight to Venezuela from Arica airport, Chile May 7, 2023. REUTERS/Alexander InfanteSANTIAGO, May 7 (Reuters) - Chile's government said that 115 Venezuelan migrants who had been stranded on the border with Peru were repatriated to Venezuela on a humanitarian flight Sunday. Hundreds of migrants, mostly Venezuelans seeking to return home, had been stranded in the country's northern border after being denied entry into Peru. The incident sparked diplomatic tensions as Peru sent police and soldiers to the border to block migrants. In a statement released Sunday, Chile's Foreign Ministry said the flight was the result of diplomatic efforts with the Venezuelan government and its "Return to the Homeland" plan.

☆ LeBron James vs. Steph Curry: Old rivalries reignite as LA Lakers face Golden State Warriors
▼ + stars: | 2023-05-02 | by ( Thomas Schlachter | ) edition.cnn.com time to read: +8 min

LeBron James and the Los Angeles Lakers took down the Memphis Grizzlies 4-2 in the opening round of the playoffs. In another battle of the old vs. the young, the Golden State Warriors beat the Sacramento Kings in an exhilarating seven-game series. José Luis Villegas/APBattles of old2015 FinalsThe first NBA Finals matchup between LeBron and Steph was in 2015. Greg Nelson/Sports Illustrated/Getty Images2017 FinalsThe Golden State Warriors responded to their 2016 Finals loss by recruiting Kevin Durant in the off-season. Following a disappointing end to his second stint with the Cavaliers, LeBron moved across to the West and signed with the Los Angeles Lakers.

☆ Chile's lithium takeover plan faces technical, political challenges
▼ + stars: | 2023-04-28 | by ( Fabian Cambero | ) www.reuters.com time to read: +7 min

[1/3] A view of a brine pool of a lithium mine on the Atacama salt flat in the Atacama desert, Chile, August 16, 2018. REUTERS/Ivan Alvarado/File PhotoSANTIAGO, April 28 (Reuters) - While Chile's plan to take control of its lithium industry has caused global shockwaves, state-led production of the metal used to make electric vehicle batteries is seen by analysts as likely years away given technical and political challenges. CODELCO'S ROLEChile's state-run Codelco, the largest copper producer in the world, plays a key role in Boric's lithium plan although it has no experience in producing the white metal. The report noted that Argentina currently has more lithium projects in the pipeline than any other country in the world. Albemarle has said it needs new water sources to expand in Chile's Atacama salt flat, noting a desalination project was awaiting permits and construction.

SQM's lithium contract in Chile is set to expire in 2030 and Albemarle's in 2043, giving it more insulation from the potential move. Mexico nationalized its lithium deposits last year, and Indonesia banned exports of nickel ore, a key battery material, in 2020. SQM has a larger footprint in Chile, with 81,000 hectares (about 200,000 acres) for lithium extraction compared with Albemarle's 16,000 hectares. Argentine state energy firm YPF last year began exploring lithium, while Bolivia has long maintained strict control over its huge though largely untapped resources. Mexico's President Andres Manuel Lopez Obrador and Bolivia's Luis Arce have touted the idea of a regional lithium "OPEC" to coordinate on lithium policy and benefit local economies.

The shock move in the country with the world's largest lithium reserves would in time transfer control of Chile's vast lithium operations from industry giants SQM (SQMA.SN) and Albemarle (ALB.N) to a separate state-owned company. "Nevertheless, projects with strategic values for the country, this partnership has to have a majority participation of the state," Boric said. The president added that there will be a division dedicated to advancing technology to minimize environmental impacts, including favoring direct lithium extraction over evaporation ponds. Privately held Summit Nanotech Corp, which is developing direct lithium extraction technology and recently opened a Santiago office, welcomed Boric's announcement. Boric said the country would look to protect biodiversity and share mining benefits with indigenous and surrounding communities as lithium extraction evolves.

The move would see Chile, the world's second largest lithium producer, shift to a model with the state holding a controlling interest in all new lithium projects through a public company that would partner with private mining firms. Mexico nationalized its lithium deposits last year, and Indonesia banned exports of nickel ore, a key battery material, in 2020. In early trading on Friday, Chilean firm SQM's U.S.-listed shares slid 6.2%, while Albemarle was down 2.5%. SQM's lithium contract in Chile is set to expire in 2030 and Albemarle's in 2043, giving it more insulation from the potential move. Mining shares in London fell sharply too.

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