Resource control is central to this rise as these countries hold most of the world ’s key minerals, oil, gas, and agricultural output, vital for electric vehicles, AI, energy systems, and food supply. Recognising this dominance, many Global South countries now focus on local processing, industrial diversification, South–South trade and reforms in global institutions.

Demographics, resources and growth increasingly favor the Global South, while advanced economies expand slowly. Thus, the key question now is not whether the shift is happening, but how traditional powers will respond to a world where influence is more shared than dictated.

The partnership was formally presented as part of Chile’s National Lithium Strategy, which seeks to increase state participation in the sector while maintaining cooperation with private capital. Nova Andino Litio will oversee the full lithium value chain in the Atacama, from exploration and extraction to production and commercialisation, with operations projected to extend until 2060, according to Codelco.

The launch ceremony brought together key figures from both companies, including Codelco chairman Máximo Pacheco and SQM chief executive Ricardo Ramos, alongside President Gabriel Boric, signalling strong political backing for the initiative. The presence of the head of state underlined the strategic importance the government assigns to lithium as a pillar of Chile’s future economic model.

Speaking at the event, Pacheco framed the alliance as a historic convergence between the country’s largest state-owned and private firms, arguing that it could reposition Chile at the top of global lithium production. Ramos, in turn, expressed confidence that combining the capabilities of both companies would generate greater value than operating separately, pointing to the scale and ambition of the project.

Nova Andino Litio is expected to reach an annual output of around 300,000 tonnes of lithium, a significant increase compared with national production levels in recent years. In a global context marked by rising demand for critical minerals and intensifying competition among producer countries, Chile’s move reflects a broader effort across the Global South to balance sovereignty, investment and long-term control over strategic natural resources.

Yet ironically, both of these superpowers lack significant domestic reserves of many of these minerals. Africa, in contrast, hosts them, from cobalt in the Democratic Republic of Congo to lithium in Zimbabwe and platinum in South Africa .

But much of the value is lost externally. Raw minerals are exported, refined elsewhere, and packaged into high-value goods overseas.

This extract-then-enrich model leaves African countries dependent and undercompensated. The insight is simple: control over resources means control over the future — whether in energy, security, or technological development.

The narrative, however, is shifting. Across the continent, governments and entrepreneurs are pushing to recapture value. Ghana has established a new Ghana Gold Board (GoldBod) to regulate gold trading, buy local output, and discourage smuggling.

Zimbabwe is making a bold move after banning raw lithium ore exports in 2022. The government plans to ban lithium concentrate exports starting January 2027, forcing downstream processing to occur domestically.

Still, challenges remain. Global lithium prices have collapsed from their highs, squeezing margins and putting pressure on miners to survive through volatility.

The geopolitical pressure is also intensifying as China has recently tightened its export controls on rare earths and related technologies, especially around defence and semiconductors, signalling a more assertive posture.