Yellen Looks to Chile's Vast Lithium Reserves to Reduce U.S. Dependence on China

• Yellen praises Chile's policies and critical minerals that are key to reducing dependence on China

• Chile has world's largest lithium reserves, used in electric vehicle batteries; it's the no. 2 lithium supplier globally

• Yellen seeks to strengthen economic ties with Chile and secure lithium supplies from countries other than China

• Chile aims to take controlling stake in lithium operations, make production more sustainable, and generate more revenue

• Chile stands to benefit from Biden's green stimulus program and increased lithium demand, though it also courts Chinese investors