livent corp LTHM Shares are up 2.71% to $21.21 during Monday’s session, recovering after last week’s news. Chile’s President Boric announced a plan to nationalize Chile’s lithium industry.

Chile is the world’s second-largest producer of lithium and has the third-largest reserves of the metal, which is used to make batteries for electric vehicles.

In 2022, Chile accounted for nearly a third of global lithium production, with production from its lithium mine estimated at 39,000 tonnes.

See also: Elon Musk says lithium is common everywhere, Chile’s economy minister politely corrects him

According to data from Gasoline ProLTHM has a 52-week high of $36.38 and a 52-week low of $18.26.