The race to unearth metals needed for the clean-energy transition has become so intense that even Argentina — a country where in the recent past companies had been more likely to head for the exit — drew record foreign investment last year.
Flows into Argentina grew 123%, with the lithium and copper industries contributing billions of dollars. In South America, only Uruguay and Paraguay saw bigger investment increases.
Despite tight capital controls, protectionism and political volatility — driving locals scarred by past crises to pull cash out — the voracious global appetite for lithium means miners and battery makers aren’t deterred.
(By Jonathan Gilbert)
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