The lithium triangle spanning Chile, Argentina and Bolivia holds over half the world's lithium resources, essential for the energy transition. A dramatic political shift has occurred: all three nations now have right-leaning presidents after years of left-wing leadership. This reversal could reshape how critical minerals flow from South America to global markets.

When José Antonio Kast takes office in Chile on March 11, the region's mining policies will align with US President Donald Trump's agenda. Argentina's Javier Milei has signed a trade deal reducing tariffs on US agricultural exports while prioritizing American mining companies over "market manipulating economies." Bolivia's Rodrigo Paz is re-establishing US ties while maintaining Chinese partnerships.

Despite pro-US rhetoric, China's economic influence remains strong. Chinese companies have invested heavily in Argentine infrastructure, energy and lithium projects - sectors with durable, place-based assets unlikely to shift quickly. In Bolivia, Paz has surprised observers by respecting lithium contracts with Chinese and Russian firms despite campaign promises to review them. These right-wing governments face a complex reality: while courting US investment, they must navigate existing Chinese relationships and local community opposition to mining expansion.