Abstract 3

Foreword 4

Acknowledgements 5

Table of contents 6

Reader’s guide 8

Abbreviations and acronyms 10

Executive Summary 11

1 The critical mineral landscape of Latin America and the Caribbean 13

  1.1. Overview of critical mineral resources in Latin America and the Caribbean 13Regional mapping of key minerals 15

  1.2. Foreign trade in critical minerals in Latin America and the Caribbean 22

  1.3. Foreign direct investment 23

  1.4. Challenges to realising the potential of geological resources in LAC 26

  1.5. Innovation dynamics and emerging suppliers 27

2 Critical mineral policies in consuming and producing economies 29

  2.1. Strategies of key foreign players 29

  2.2. National strategies in Latin America and the Caribbean 30

  2.3. Broader industrial development and value addition 32

  2.4. Challenges to building forward linkages 33

3 Rent capture and taxation of mining in Latin America and the Caribbean 34

  3.1. Mining revenue instruments 34

  3.2. Investment incentives 35

  3.3. Marginal effective tax and royalty rates 35

  3.4. Capacity and volatility in tax systems 36

4 Responsible business conduct considerations 37

  4.1. Social and human rights considerations 37

  4.2. Environmental considerations 38

  4.3. Integrity and governance considerations 40

  4.4. Responsible business conduct in the minerals sector in Latin America and the Caribbean 40

5 Conclusions: Towards stronger regional co-operation and global integration in critical mineral value chains 47

  5.1. Strengthening regional knowledge and evidence on critical minerals 48

  5.2. Identifying opportunities for regional value chain integration 48

  5.3. Promoting responsible investment, finance and business conduct 49

  5.4. Addressing regional infrastructure and integration limitations 49

  5.5. Building skills, technological capabilities and innovation 50

  5.6. Enhancing global partnerships and co-operation 50

  5.7. Next steps for regional co-operation 50

Annex A: Main minerals produced in Latin America and the Caribbean 52

References 54