Better traceability of critical minerals such as lithium and nickel is needed to manage operational and governance risks in complex supply chains, with the OECD report flagging fragmented company-level systems, low adoption by miners, and opaque transnational ownership structures in Indonesian and Philippine nickel. Case studies of lithium from Argentina and Chile show heavy dependence on Chinese processing and major data gaps, limiting visibility on foreign upstream ownership despite existing tools like SIMBARA, LME responsible-sourcing rules and local audits. The OECD proposes a phased, risk-based approach: short-term use of current supplier mapping and bilateral mineral agreements, medium-term closure of data gaps via traders, exchanges and smelters, and long-term cross-border data sharing and aligned battery standards through platforms such as the G7 Critical Minerals Action Plan, FORGE and RESourceEU.

Chile is moving to open its capital markets to junior explorers with a Senate-approved bill that creates a dedicated investment framework for early-stage mining and innovation companies, including a simplified regime that avoids full Securities Registry registration and uses sponsoring agents for compliance. The package offers capital gains tax exemptions on share sales, greenfield exploration write-offs and reworked reduced-fee rules for exploration and exploitation concessions, addressing long-standing issues flagged by Agrumin and Sonami over fee-related auctions. With exploration budgets at about $874 million in 2025, 76% in copper and only $206 million in initial exploration, the reform aims to push more private capital into grassroots projects rather than major-led brownfield programmes.

A looming “space race” for critical minerals is set to accelerate state-backed mining investment, with International Council on Mining and Metals chief executive Rohitesh Dhawan arguing that geopolitical competition could rapidly expand permitting, infrastructure funding and offtake guarantees. The 2026 International Mining and Resources Conference (IMARC) in Melbourne is being framed as a test of whether governments will move beyond rhetoric to concrete policy support, including streamlined approvals and public–private financing for new copper, nickel and rare earths projects.