Robert Friedland’s bullish predictions on copper and mining in Africa are starting to become reality – by Brendan Ryan – April 26, 2023)

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DEVELOPMENTS in Chile where the socialist government is looking at nationalising a sector of its mining industry are bearing out the predictions made over the past few years at the Mining Indaba by billionaire mining entrepreneur Robert Friedland.

The fall out is likely to be beneficial for African mining countries – in particular the Democratic Republic of Congo (DRC) and Zambia – as investors reduce their exposure to Chile and mining companies start to look elsewhere for new lithium and copper projects.

This week Chilean president Gabriel Boric announced plans to create a state-owned lithium company which would control the world’s largest lithium reserves in a move which analysts are viewing as effective nationalisation of the sector.

According to UK research and broking firm SP Angel “President Boric’s national address on the country’s lithium reserves has seen an exodus of investors from the country’s lithium equities. As a result investors are looking to alternative jurisdictions with less threat of resources nationalisation.

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