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Codelco launches two new subsidiaries to focus on lithium business after the government announced to increase state control on the metal.

Chilean State miner Codelco, the world's largest copper producer, said on Friday it had created two subsidiaries to run a newly mandated lithium business amid a government plan to increase state control over the industry. The government instructed Codelco in April to begin talks with companies running lithium mining operations in Chile's Atacama salt flats as part of a new lithium strategy that will see the state take majority stakes in all "strategic" projects.

SANTIAGO (Reuters) - Chilean state miner Codelco, the world's largest copper producer, said on Friday it had created two subsidiaries to run a newly mandated lithium business amid a government plan to increase state control over the industry. | 02:14pm

Chilean state miner Codelco, the world's largest copper producer, said on Friday it had created two subsidiaries to run a newly mandated lithium business amid a government plan to increase state control over the industry.

In Lithium Mines Beneath the Atacama Salt Flats, a Crisis Waits to Erupt 30/12/2020 Featured image: Salar de Atacama – the Atacama Salt Flat. Photo: Pixabay/TravelCoffeeBook Lithium is one of Earth’s most widespread elements. The metal is found just about everywhere, even in small traces in drinking water. It’s a key element in the batteries that experts say could guide us to zero-emission electricity and transportation. That is, if it can be mined fast enough. But in Chile, scientists are finding that the rapid rate of removal may be disrupting water availability in the surr...