Post by
TheeRook on Apr 21, 2023 4:43pm
Chile Risk
Risk if Chile goes after other Minerals.
Mantos Blancos copper-silver mine, located in the Antofagasta region, Chile, and 70 per cent of the Mantoverde copper-gold mine, located in the Atacama region, Chile. In addition, it owns the fully permitted Santo Domingo copper-gold project, located approximately 30 kilometres northeast of Mantoverde in the Atacama region, Chile Lithium investors are having a bad day Friday, as reports out of Chile that President Gabriel Boric intends to nationalize the Chilean lithium industry devastate shares of lithium companies with interests in the country.
So what
Specifically, the good news is that while Albemarle may be hurt by Chile's action, it won't be hurt as badly as Sociedad Quimica y Minera de Chile (SQM -18.57%), another lithium miner that's seeing its shares devastated today. Both companies, you see, are now staring down the risk that Chile's government will confiscate their assets in the country, pay less than these assets are worth in compensation (or not pay compensation at all), and thus render their businesses significantly less valuable than they were just 24 hours ago.
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