route, then we'll be here later today. this isn't all hands on deck response. the damage to property infrastructure is now avoidable. but we can save lives with simple common sense and we ask you to exercise the common sense. apart from the damage to property, trouble has been severely disrupted. numerous roads have been flooded or simply washed away. in a traffic from several major pulse was suspended and it's not over yet. rain continues to full. my kind of, oh jeez, here at washington. the hello again, i'm and this of a toronto mendoza hall with the headlines on the i'll just say around to k as president george of 5, as long as the great him back sweden's bed to join nato. it would now go to the, took his parliament for ratification, and went to sweden will increase count to tau coordination and support to k as bed

to join the european union. nato secretary general. yeah, installing some folks hes all assigned, full benefit, complete things, reasons. accession tonight though is on historic step. the benefits, the security of all nate, all laws at this critical time, it makes us all stronger and safe. it has delivered more in our fight against terrorism. more security for to kia and the stronger nate to i do as president joe biden has landed and miscellaneous for the key nato summit. he arrived from the u. k, where he met russians, king charles, they discussed efforts to address the climate crisis bite and also how told sort of u. k prime minister issue so neck. they talked about us plans to send cluster bombs to ukraine. the kremlin hasn't mentioned that russian president vladimir putin met with the was the most and really day he's getting precocious 5 days off to has failed recently to go ahead and ordered his troops to march on moscow last month.

but the rebellion was cooled off, tennessee and media is reporting that the african migrant stranded on the board of, of libya, have been relocated. 700 people were detained by security for the us as last week of to and to migrant protests. for spanish coast guard has rescued 86 miles from the boats near the canary islands. the migrant sailed on 3 boats from senegal, 2 weeks ago, is rarely full so as have shot dead, a palestinian man near them online. the occupied westbank amid the trees has 33 year old, been out ca the side of distances separately as by his own. just the rest of the 10 palestinians. drew rates and several naval hose. leaders of kenya, ethiopia, south saddam and booty have called for an end to the violence of dawn. the so called i guide for transmission. if you, if he has capital fighting continues and sit on between the army and the power military rapids support forces counting, the cost is coming up next. thank you for watching the 1960,

the decade of change across the middle east in north africa in the 2nd of a 3 part series. alger 0, well, explores the explosion of box and culture, intellectual as we're building new dreams. and the idea is because the revolutions of the 1964 in the political parts of the mind for music to tv, the poetry of protest and revolution make for making the 60s in the arab culture. oh no jews here. the hello, i'm sammy say them. this is counting the costs that i'll just sarah. 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 spin the race, ethnicity and heat song plus spots one, the sparkling diamond deal, the african nation getting a bigger share of its gems. also tends negotiations with mining company to be is the thousands of cars, torched countless shops looted and banks attack during several nights of riots and fronds. the unrest over the shooting of a 17 year old by the place is estimated to have cost hundreds of millions of dollars on the full 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 c nights of rising and losing up the police, choosing of a 17 year old. some locals to sympathize say this isn't the right way to bring about change. consort will lot of all 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 for us. it's us walking people, so it wasn't just businesses that were attacked. stadiums were damaged cars set on fire of the costs is expected to run into the hundreds of millions. the government has announced 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 risk 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 their warning, their own rest and instability could have for attempts, draining the deficit and get the economy growing. vince in monahan 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. hopefully. take us to

the economic full house with the right so far. look too much should oh, we're a instead of the furniture institution, a frontier institution good does allow 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 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 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 in the credit rating agencies, they all sounding the alarm over the level of that, right? even if, as he said, the economy is not in recession, that's such a board. we have social issues, are the riots we had this week. and the reason before was to change that with this is the social social issue, the government, i've tried for yours to zip a 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 a 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 sold about 35 months for the center of the a. they're worried. and this is clearly a, an issue. and we, we don't know exactly how to manage that. we agree of a lot of that. we have very high visited, but i'm sure i posted comments of the ser. uh, so sort of managed by then to 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 minister has 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 in the past is that the finance minister is always looking for a buttons, bitch at. but the idea is very, very good because of french besides the love by the, by itself. and so we need to spend a lot of the drug, the, the, you know, we, we have the rather age encroachments on this, the, on this issue. we are trying to get kind of in, by the same time, uh, a lot of social issues. uh, the government and my cold pres, marco,

i've tried to buy homes at 2 as to really much. we had a reform of the retirement quote, which was the reason, because, uh, more people we go on retirement. and so we need to do to follow the retirement keep. so it was tempted to to, to strategy. yeah. as it's trisha. but the same time uh we, uh we, we, we did to, you know, more than the other, you know, the father particularly invitation to the, on this board. 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 cold,

which is cold calls. 2013. uh, we tried to, uh, uh, uh, grow to pricing. but as for relations rid dictation, i didn't start working. and that's very, very important. as a certain time, the level of employment i've, i've been, i've hired to, to know in the past. so we have a situation both. we have only so certain balance. and that's why the situation from outside is competition to, to drive this time. it's all to have a certain product, but it's much more as if to drug this time it from the outside. but we have some but as cool moment tom on the innovation on jobs, job spray insurance drugs. so g, uh, uh, let's see. patients is not talking about the ad, but i have the right it looks pretty straight forward for the portal. i would type

tom's been great talking to you for life. thanks so much. thank you very much. the. it's the white gold lithium is critical to the production of electric vehicles in small phones. but the, the sales are growing around the wealth demand for the metro could out strip production by the end of the decade, with governments raising to meet the renewable energy goals. mining funds 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 by 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 forward is taking the right step of buying stakes in 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 like an origin tina known as the cm triangle. global lithium production is led by australia july china and origin. tina they comprise more than 95 percent combined. but badging controls nearly 60 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 mines, but the movies oppose by campaign is concerned about environmental and social home

. in northern origin, tina there are vast amounts of lithium indigenous communities. fear mining companies are 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 let's see him, 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, many years. we want the governor to revolt the new constitution and to resign. for decades, indigenous communities have survived both capital tourism insult. they say all of these could be undermined by large scale mining to look over the 1st of 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 were injured. the governor says he's put 2 of the articles that 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 will cost a lot less in those communities remain on that bill set. and that development in the region will come at their expense because they might 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 firm 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 be 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 land 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 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. it is 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 what the only mean as an example, if you think about the full lithium supply chain, china, mine's about 13 percent of lithium global a, but they refine in other words, take that rall, 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, let 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 on 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. yeah. literally 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,

a strategic imperative. and one of the things that the chinese did was basically went outward, bound with their checkbook and locked up the natural resources locked up with him 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 come back to the point of how solve the, the countries which host these minerals like lithium, trying 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 cost,

how something along the lines of opec mitigate that risk for 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 media with respect to nickel has talked about that specifically. um, i wouldn't be too optimistic about seeing a lithium opec or a battery metals opec. any time soon. i mean, these markets, the supply chain for lithium, for example, is, is very widely dispersed. um and because of that, i think, you know, take a little off a long 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 belgian 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 spot swan the share under the new joint mining agreement. but swan that will get 30 percent of extracted rock stones up from $25.00 plus signs 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 $1.01 the last year. president, buckwheat c my c. c is threatened to comp, ties with the company of his nation, did not receive a battery share. he's increased pressure on this by seeking to biased day. can belgian jen try the h b and flip over the deal is get to be finalized. all the nations like sierra leone times in the ends. you 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 books, wanna so case is a new joint mining agreement, a 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 find a governor the bus one the gets. i think at, at the expense of to be is to some extent but, but overall there's, there's mutual benefit in the deal. and you mentioned that it comes some wants at the expense of b as why that is punch again, we should say, yes, i'm into this again because, you know, go from the books one or show know for many years it's ability to extract

concessions from the bills every time there's a setup negotiations, but i think for, for the v is and what was critically important was getting assurance over the long term mining leases. as you know, this was both uh mining lease agreement and the state was a marketing agreements on the mining leases are now been extended to be on the 2054 for the well to 2054 for the joint venture. that's one which is a $5050.00 j v between government bills. and that's those mines require very high levels of investment. so the long term assurance over those money lease is i think is, is good 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, i think we're prepared to concede that more than some other aspects of the line.

but 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 bus one. the population will help achieve development goals. while you're as aspirations of about some of the people that that's, that's very big and, 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 funds, which is going to be set top funded by the bist. i'm 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 the agreements are fully signed to the negotiated. where does that leave the biz market position, then?

the amended, it has different aspects for the bill. so one is they've still got access to the supply of diamonds for groups, one of 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 because like they've diamond company will increase gradually over a 10 year period. but i think for to be is it's business that they have a short access to supply from depths one, which as i say, is the largest single source of supply, which enables them to maintain that very strong position in the diamond world. all right, thanks for sharing your perspective on my case. thank you very much. and that's all i show for this week. but remember, you can get in touch with us by the way to use the hash tag a j, c, d c. when you do or drop us an

e mail accounting costs down to 0 dot net is our address. as more for you online at al serra dot com slash ctc, that'll take you straight to a page which has individual reports, links, 9th and tara episode. see the catch up on that's it for this edition of counting the cost on the time you say that from the whole team here. thanks for joining us. use it. i'll just say it right is next. the extra 4 years of tables and i was white with presidency results political pendulum swung back to let the silver socialist government backed by deep buckington. i

agree, businessman sections within the military and the large event jelic to base his opponents of challenge. the very integrity of the amount of boxes under obstructing is reforms. people in power us can lose. we unite the nation, saving brazil's democracy on a jersey to the helm. elizabeth toronto mendoza with the headlines on alice's era to k as president . george replied that the lawn has agreed to back sweden's bed to join nato. and for ton sweden will increase counted towel, coordination and support took. he has been to enjoying the european union nation was secretary general against unction. the says old sites would benefit complete things. reasons. accession tonight though is uninstalled except the benefits.