promise is too little too late. these factory workers from the pole has been here for months, with no work and no pay. they say that now being pressured to return home with little hope of ever being compensated. florence li algebra quite an import. rhonda a rough musician doing phase protest songs against rainy and leaders has been jailed for what's being described as corruption on of the most thought. he was sentenced to 6 years and 3 months the rap at gold football and nationwide demonstrations to the, to the most. i meaning in police custody last year, the feel what you know, just bear with me. so robin, in the minds of all the top stories took he is president, has put revival of the membership tools as one of the conditions to back sweet and succession to data. now this is the 1st time the president back to the top of the one has directly linked the to as the present to the list of demands just

a day before the attorney does meet and lithuania took you as opposed to weaknesses nato accession saying that it needs to do more to come down on curtis on groups, but it's considered as terrorists really large because i'm on this to j has been waiting at the door of the european union for over 50 years now. and almost all of the nato member countries are now members of the european union. i am making this call from here to these countries that have caps, turkey waiting at the gates of the you for more than 50 years. i will also make this call in vilnius, come and open the way for turkey as membership to the european union. when you pay the way for turkey will pay the way for sweden. as we did for finland. they said, is that good for general is backing to k is our mission to join the european union . as i support turkey or somebody seems to become a member of the european union at the same time, we need to remember that will be agreed and agreed with a specific list of conditions. so that's a street and has to meet to be

a full member over the lions. and the student has met these to conditions and that's about removing the restrictions on the arm to exports a desktop. and then it's about to strengthening the cooperation between took the on the as reason on fighting tires. and that's taking place. the kremlin has confirmed russia's president by the way, a patient met with the chief of the vault, the messenger and gravy of getting provision just days after his fail verbally and the discussions took place just 5 days after the group march towards most go last months. 6 people have been killed and another injured and attack it. a kindergarten in china. the attack took place in glen dung. providence, a 25 year old suspects has been taken into custody. you can follow those stories on our website to thousands of adult comments updated throughout the day. i'll be back with munoz and hoffman i here on. i was there, but not students counting the cost to stay with us. so we know

what's happening in our region. we know have to get some places that others tend on fear god by the youth on purpose. the way that you tell the story is what can make a difference. the hello, i'm sammy say them. this is counting the costs that i'll just say are you look at the world of business and economics this week. the cost of rights and fonts, adding up the nation has massive debt and aims to restore public finances. so candidates find its way out of the crisis. also this week as the wheels of electric cars been the race, ethnicity and heats up last spots one,

the sparkling diamond deal, the ask the nation getting a bigger share of its gems. off the tents, negotiations with mining company to be is the thousands of cars, torch countless shops looted and bangs attack during several nights of riots and fronds beyond rest of the shooting of a 17 year old by the place is estimated to have cost hundreds of millions of dollars on the fold axis. yes. now the challenge for the presidency manual micron. he's already faced months of protests against pension reforms, for the nation is drowning in debt and ames the count, spending for them on a 100 reports parisians. business owners are taking stock of the damage, the suburb of sea nights of rising and loosing after police, shooting of a 17 year old. some locals and some tie say this isn't the right way to bring about

change. consort, will lot of it for these damage won't bring a solution. so we have to find democratic responses. we have to respect the law conscious grid scale. so who ends up suffering? it's the force of all it's us walking people, so it wasn't just businesses that were attacked. stadiums were damaged, cars set on fire. the costs is expected to run into the hundreds of millions. the government has no measures to help struggling retailers, and we'll do multi dual history. we found some companies to reduce insurance deductibles as much as possible. we also offer the french banking federation to show the utmost understanding in terms of handling due payments for retailers and entrepreneurs who may have been affected by these acts of vandalism, enough to hold it to the french present. a manual in the crowd has met with local officials, but many feel not enough as being done on the right password. it's not the local elected officials who are responsible for this tension and damage. and we are

waiting for action on city policy. there has been no direction from the government for too long on the problem. the latest on rest comes as prompt space is a range of economic challenges. the crowns attempts to get public finance and order have been met with strikes and protest, particularly as push to raise the age of retirement. government spending was high during the pandemic, and public debt has passed more than 3 trillion dollars. credit agencies are wearing some already downgraded france in april and they're warning their own rest and instability could have for attempts, draining the deficit and get the economy growing. vince and bother him for counting the cost as well. joining me now from paris is felipe. wish the city is chief economist. that's awesome. asset management. good to have you with us. so for they take us to the economic full now. so the right so far look too much should oh, we're a, instead of the furniture institution,

a frontier needs to do some good laptop for a re delivery charge. so what happens when you are all right with xerox prize? what we see is a very short term effect, but after that we ever capture and the situation is boosted on what you can expect when we are here is this dry of salt in this price. so there is no uh, but the real issue as yeah, uh with the situation. all right, so the impact not that big, but whether i told you about strikes or riots, i mean all of this really exposing some of the social on the line social tensions can front of full to address, particularly some of the issues which prompted the riots like housing, education, and so on. those kinds of any qualities. book the test things to, to, to keep in mind the springs or by the, or your discounts,

the funds provided that are kind of each time that it works well. well, not rest assured, we will probably won't be in repetition gesture, but at the same time, we are kind of writing agencies, i'm sorry, let me jump into the credit rating agencies. they all sounding the alarm over the level of debt, right? even if, as he said, the company is not in recession, that's such a board. we have suffered issues are riots we had this week. and the reason before was to change the wages of the social or the social issue, the governments i've tried for yours, add to zimmet g bar, top foot. this a source for these balances. they found a lot, a reduce touch it add on the top as a matter of fact we, we had a lot of that and that's, that's a real question we are,

we would mention to you during the by 3 and show by the pool. uh, all of these, uh, uh, drugs she's got to go to a, a ready to do, to the french trinity. we saw that the final was the center of the, of their worries. and so this is clearly a, an issue and we, we don't know exactly how to bad edge that we re lot of that we have very high visited. but i'm sure i posted comments of the ser. uh, so sort of managed by the into relate to the, to have a lot of funds to do part of this and balances, but i'd say budget the impact back we're going to get to the back of the on that so that so hang on. so from this ready caught between these 2 forces, right, i mean, the finance ministers, promising to put finances back on track. but to do that,

does that mean for the cops and social spending and, and more into quality problems? so that's what important part, what we saw was the task is that the finance minister is always looking for a balanced budget. but the idea is very, very good because of, in french besides the love by the, by itself. and so we need to spend a lot of the because the, the, you know, we, we have the rug, the age in crowds on this for, on this issue. we are trying to get kind of in, by the same time, a lot of social issues as the government and by cause the prince, mark, quote, try to back and zip 2 as to really much. we had a reform of the retirement quote, which was the reason because the more people we go retirement and so we need to

do to follow the retirement keep. so it was tempted to, to, to change the as it's trisha. but the same time uh we, uh, uh we, we, we did to, you know, more than the other. uh, you know, the father visitations, uh, uh, the owners is, uh, uh, just all the time. that's why it's very, very come, you know, so what's the bottom line then? philly is that as you put a balancing act by the government, is it failing? what does that leave economic growth? no, it's too robust. it's not cold drug produced to robust. and we have, are applied to that has been put in place by you to dissolve our coal, which has cold 122013. uh, we tried to, uh, uh,

uh, growth in france in the us for revisions. red dictation. i didn't start working and that's very, very important to us as a certain time, the level of employment i've not been as high as it, you know, in the past. so we have a situation both. we have only sort of balance. and that's why the situation from outside is competition to, to drive this on the all to understand the process. but it's much more as it's to drug this time it from the outside. but we have some but as cool moment tom on the innovation on jobs, jobs, patients, drugs. so g, uh, uh, let's see. patients is not talking about a lot of but i have the right. it looks pretty straight forward for the portal i would type prompts been great talking to you for life. thanks so much. thank you very much. the. it's the,

the white gold lithium is critical to the production of electric vehicles in small phones. but the, the sales are growing around the world demand for the metro could out strip production by the end of the decade, with governments racing to meet the renewable energy goals. mining firms and comic is an al, scrambling to lock in most supplies. chinese companies and russian firms will now invest more than $1000000000.00 in the extraction of the match with in bolivia that follows a similar major deal buying chinese battery may cause c, a t. as in january, china dominates the lithium supply chain. the us and europe trying to catch shop. meanwhile, comic is like general motors and for the taking the right step of buying stakes and mining firms, bypassing traditional suppliers. according to the us geological survey, there are 98000000 metric tons of lithium globally. nearly 60 percent is in

3 latin american nations. believe it should a, an auction tina known as the lithium triangle. global lithium production is led by australia chalet, china and origin. tina they comprise more than 95 percent combined. but badging controls and 8060 percent of the world's lithium processing fluids network of refineries. the us is only one working mind despite being rich and the metal. washington has recently introduced a new bill, which includes tax credits on a visa that sol set back for a rule materials domestically. europe plans to ease regulate tree battery is to open its minds, but the movies oppose by campaign is concerned about environmental and social home . in knolls in argentine that there are vast amounts of lithium indigenous communities. fee of mining companies off eroding the land rights. many people in

the province of hawaii has taken the fight to the streets. mike lapel reports the members of this indigenous community in northern argentina have been blocking roads for days. they worry about what they see as a threat to the livelihoods constitutional reforms that could open up the land to exploitation by lithium company. then i'm going to what, by doing for our rights to be respected as dual regional communities that have lived here for many years. we want the governor to revolt the new constitution and to resign. for decades, indigenous communities have survive, growth, capital, tourism insult. they say all of these could be undermined by large scale mining to look over the think above all this conflict is happening here. it's unusual for us . we're not used to this, and we're so afraid they want to change laws. and as usual, we won't have any right, but it's a good the constitutional reform has sparked violence. recently,

the government tried to move, protest is by force. dozens of people injured. the government says he's put 2 of the articles that are off consent to the indigenous communities on the on whole go in the i cannot say that we have gone to the community and if they think we will run them over, we want, we have gone back to the 2 articles that concern them, and we will revise that because a lot of in those communities remain on that bill set. and that development in the region will come at their expense because they might to level for counting the cost from washington dc. now i'm joined by chris barry. chris is the founder and president of research and advisory from house mountain partners. good to have you with us. so chris, the whole idea of renewable energy, right? it's one of the main things. it's supposed to be about protecting the environment, but is it creating a new set of challenges for the environment because of the need it's need for lift

him? well, i think it certainly isn't. and thank you for having me. i called at the paradox of green growth in the sense that we all want to de carbonized, and we want to take c o 2 out of the atmosphere. but you know, we're not going to do this with fewer or less natural resources. we're going to have to use many, many more of lithium in particular. um and so, you know, that's the real challenge we could think of using perhaps certain technologies to bring more resources above ground or battery recycling for example. but the bottom line is neither of those 2 options are gonna fill any potential gap are going to need a lot more, lift them in the next 10 years. all right, let's bring in a little bit of a political angle to this discussion. now seeing some latin american countries kind of taking a lot more control over lithium companies, bring that more on the state control. how does that impact the concerns about the environment? how does it impact the concerns about social justice and making show benefits,

reach the people? well, i think this is, you know, if we take chile as a case study, you know, they, they have laid out a national lithium strategy. their plan, which lane government's plan is to take a much more active role in the lithium supply chain. of course, chilly is one of the largest lithium producers in the world, and it's likely to stay that way for many, many years. and i think president bork, in particular, has realized listen, you know, we have companies like s q, m and album model that are mining lithium from solars and the outcome of the desert . and most of that value wants to lithium is mine. that value is realized elsewhere, whether not it's battery production in asia or other parts of the world. and so these national lithium strategies, or maybe quads are resorts, nationalism would be another way to think about it is in, in this case of chile, the government's answer to try and share the wealth a little bit more. but again, this is going to cause i think tension with respect to foreign direct investment

coming into chile. i mean, for example, if you were thinking about exploring and perhaps developing a lithium asset in chile and you knew that a portion of your asset, a portion of your value was going to go to the state in terms of ownership. you may think twice about investing and shelly, maybe you'll think about argentina or even parts of africa, i think are really going to have to step up for lithium production in the future here. so, you know, the good thing about lithium is that it's not rare. you could find it in turn in hard rock sources, for example, in western australia, oregon, the lithium triangle, which is bolivia, chilly in argentina. again to main portions of, of lithium production globally. so it's not rare. the good news, the bad news, or maybe the most challenging news, is we have to build out the remainder of the supply chain in order to really be carbonized. and that is what the remainder of the supply chain, the refining the battery production is. what china dominates currently, i'm glad you mentioned china. so there is this competition isn't that between china

and the us. the chinese and russian interests have made lithium investments in bolivia. is this going to strengthen the relative advantage particularly that china has when it comes to the lithium market? well, i think it will be a number of years perhaps a decade before you see any true. the coupling certainly with respect to, with the i mean as an example, if you think about the full lithium supply chain, china minds about 13 percent of lithium globally. but they refine, in other words, take that role, lithium and converted into what we call the battery grade lithium. they refine about 60 percent of the global total. and by the way, today, lift them is about 890-0000, maybe $1000000.00 ton per year market. and then as you go further down the supply chain, whether not it's battery, manufacturing, or recycling, they own well over 70 to 80 percent of those markets. and so again, you could sort of say, well,

this is what the nationalization strategy is designed to do, capture more value in specific countries. and of course, the inflation reduction act here in the united states is a full long kind of frontal assault to try and ring if you will, some of that dominance away from china. but again, it's gonna take probably 10 years, lower their rate because we can do you a kind of us can shop or is it simply to fall behind? now, when it comes to the, it's position in the lithium market? well, china, china has been building this supply chain and again, we're just talking about lithium. you could look at nickel, you could look at where it's elements. you could look at a number of, of, of raw materials, critical raw materials. and they've been doing this for 10 or 15 years. i mean, you can go back in and look at old 5 year plans and they talk about having electric vehicles as an example and grid development and strategic imperatives. and one of the things that the chinese did was basically went outward, bound with their checkbook and locked up

a natural resources locked up with you and ask for co locked up with human arch argentina or australia as an example. and so for the rest of the world to catch up whether or not it's in north america or the or pain union, or wherever, we're going to have to effectively mimic that strategy. we're going to have to sort of thing i would argue, take a public private partnerships. so governments in the private sector locking down natural resources and trying to expedite the development in order to be able to catch up. all right, and coming back to the point of how solve the, the countries which host these minerals like lithium to find to bring most a control over the process, the production chain and the processing chain. and you mentioned that, well this might drive away some of the investors who might go to another country instead. can they can the idea of a call tell something along the lines of opec mitigate that risk, full mineral host countries, and help them to,

to get more benefit for them and that people, perhaps, you know, the, the idea of a battery metals opec has been floated i know, i think in the nation with respect to nickel has talked about that specifically. um, i wouldn't be too optimistic about seeing with the m o pack or a battery metals, opec any time soon. i mean, these markets, the supply chain for lithium, for example, is, is very widely dispersed. and because of that, i think, you know, take a little off a lot of time to really consolidate and concentrate that power. all right, well we haven't spent long enough talking to it's been a great conversation. thanks so much, chris. thank you for the opportunity. i appreciate the discovery of diamonds in 1966 help ton botswana into africa. 6 richest country, but maybe 70 percent of its rough diamonds go to belgium mining from the bees. when the government has been demanding a fair, a slice of the spoils from the gems buried beneath its soil,

the base recently agreed to increase bald swan the share. under the new joint mining agreement, but swan that will get 30 percent of extracted rock stones up from 25 percent in the old deal. well, that will gradually increase the hospital diamonds to be as mines over the next decade. the company will also invest millions of dollars to help develop the nation's economy. the partnership with the v is produced nearly $3000000000.00 in revenue for bought swan the last year. president, buckwheat c, my c. c is directed to comp time with the company of his name. she did not receive a better share. he's increased pressure on the beers by seeking to buy a steak and belgian gen, try the h b and what all the deal is get to be finalized. all the nations like sierra leone tends in e a n gander, also pushing to increase the profits from the resources. and now from botswana is capital with joined by keith jeffries. he's a senior form, a senior policy adviser about swan is ministry of finance and economic development

. good to have you with us. keith is also the managing director of consultancy firm a consult botswana. so case is a new joint mining agreement of victory for bucks one or is it a win win deal? i think it's a, it's a win win deal. although the, some aspects of the deal do mock an improvement in the terms, but books while i go from the bus one, the gets i think at, at the expense of to be, is to some extent. but, but overall, the best mutual benefit in the deal. uh and you mentioned that it comes some, was that the expensive b as why that is punch again, we should say yes. um and it is again because uh, you know, government about swanner show know for many years its ability to extract concessions from the bills every time business has nothing to go. she ations, but i think for, for the d is and what was critically important was getting assurance over the

long term mining leases. as you know, this was both a mining lease agreement and the sales and marketing agreement and the mining lease has now been extended to be on the 2054 for the well to 2054 for the joint venture. that's one which is a 5050 j, v between government bills and that's those mines require very high levels of investment. so the long term assurance over those money leases i think is, is good for, for everybody involved and in the j b. and it was critical for the bid is to have that assurance. and that's why they think we're prepared to concede that more than some other aspect. so let's, let's talk a little bit about what each side get south of they spend the government saying the deal will help achieve the aspirations of the bumps while the population will help

achieve development goals. well, as the aspirations of the books, one of the people that, that's very vague and indeed we still, well let's let me try and make it a little less vague. oh, what's the bottom line of people going to see some money out of this? i think uh, bottom line is no um the uh that will be this diamonds for development fund, which is gonna be set top funded by the business. um that may help to provide some finance for investment projects with the we don't know the details, but in terms of fiscal revenues for government, i don't think we're going to see much change as, as a result of disagreement. but we, we really need to see the details about once they agreements are for me. signs of negotiated on why does it leave the biggest market position then the of the, i mean it's, it has different aspects for the bill. so one is they've still got access to the

supply of diamonds from good swanner, which is the largest single source of supply. so it helps to maintain the very strong position in the, in the diamond valued chain box. they've had to give up a little bit of wraps and over time, the share of government is going to the bucks on the government's own company. ok, thanks. diamond company will increase the gradually over a 10 year period. but i think so to be is it's means that they have a short access to supply from deb swanner, which as i say, is the largest single source of supply which enables them to maintain their bodies strong position in the diamond world. all right, thanks for sharing your perspective on my case. thank you very much. and that's all show for this week. but remember, you can get in touch with us by the way to use the hash tag h a c, d c. when you do or drop us an e mail account and the costs down to 0 dot net is our address is more for you online at al serra dot com slash ctc. that'll take you straight to

a page which has individual reports, links not the entire episodes for you to catch up on. that's it for this edition of cancelling the cost on site. me save that from the whole team here. thanks for joining us. use it. i'll just say right is next the, [000:00:00;00]

the, there are some of the media stories, a critical look at the global news media, on how to 0, government shut off access to social media. the 2 key links e membership with his backing of sweden's admission to the nighttime military alliance. the phillips to hold on the go watching of his ever life my headquarters here in the also coming up us present j buttons assistance is controversial decision to provide ukraine with cluster munitions,

with the british prime minister. pretty soon the kremlin says because it was not to be a piece in metal box, i'll see if can you forget?