Target rate probabilities for December Fed meeting.

Chart via CME Group.

In addition to that, US President Donald Trump said on Sunday (November 30) that he has decided who the next Fed chair will be. While he didn’t give a name, people familiar with the news told Bloomberg that Kevin Hassett, director of the White House’s National Economic Council, is seen as the likely candidate.

Trump has frequently criticized current Fed Chair Jerome Powell for not lowering rates quickly enough, and Powell’s replacement is widely expected to be more in line with Trump’s views.

Speaking on CBS on Sunday, Hassett was relatively tight-lipped about the Fed chair position.

“I think that the American people could expect President Trump to pick somebody who’s going to help them have cheaper car loans and easier access to mortgages at lower rate,” he commented.

“That’s what we saw in the market response to the rumor about me.”

Silver price chart, November 30 to December 1, 2025.

Silver and its sister metal gold tend to fare better when rates are lower, meaning that December rate cut expectations coupled with the Hassett rumor have helped to stoke prices for the precious metals.

While silver is known for lagging behind gold before outperforming, it’s now ahead in terms of percentage gains — silver is up about 97 percent year-to-date, while gold has risen around 60 percent. The yellow metal broke back above US$4,200 per ounce on November 28 and stayed above that level on Monday, but remains below its all-time high.

In addition to rate-related factors, silver’s breakout this year has been driven by various elements.

As a precious metal, it’s influenced by many of the same factors as gold, but its October price jump, which took it past the US$50 level, was also driven by a lack of liquidity in the London market.

While that issue appears to have resolved, a new situation has recently emerged — Bloomberg reported on November 25 that Chinese silver stockpiles are now at their lowest level in a decade after huge shipments to London.

Tariff concerns and silver’s new status as a critical mineral in the US have also provided support in 2025.

The white metal’s industrial side also shouldn’t be forgotten — according to the Silver Institute, industrial demand for silver reached a record 680.5 million ounces in 2024, driven by usage in grid infrastructure, vehicle electrification and photovoltaics. Total silver demand was down 3 percent year-on-year in 2024, but still exceeded supply for the fourth year in a row, resulting in a deficit of 148.9 million ounces for the year.

Watch five experts share their thoughts on the outlook for silver.

Time will tell what’s next for silver, but some experts see it continuing to outperform gold in 2026.

‘The sure money is made in the gold sector, but the big money is made in the silver sector — that’s proven true over the last couple of precious metals cycles. I believe it will be true in this one as well,’ said Jay Martin of VRIC Media.

5 ETFs for exposure to the silver price

1. iShares Silver Trust (ARCA:SLV)

Total assets: US$26.33 billion
Unit price: US$51.21

The iShares Silver Trust provides investors with access to the silver price performance, using the London Bullion Market Association silver price as its benchmark.

As the iShares Silver Trust’s web page warns, it is not an investment company registered under the Investment Company Act of 1940, or a commodity pool under the Commodity Exchange Act. Because of this, it is not subject to the regulatory requirements that apply to mutual funds or ETFs.

This silver trust holds 508 million ounces of silver bullion.

2. Sprott Physical Silver Trust (ARCA:PSLV,TSX:PSLV)

Total assets: US$11.61 billion
Unit price: US$18.65

The Sprott Physical Silver Trust is an option for investors looking for the security of physical silver without the need to find secure storage.

The ETF is backed by 191.12 million ounces of silver held in trust in fully allocated London Good Delivery silver bars.

Additionally, the ETF is fully convertible into physical silver, should investors decide they want the precious metal on hand. However, the fund states that holders ‘must have enough units to equate to ten 1000 oz silver bars.’

3. Aberdeen Standard Physical Silver Shares ETF (ARCA:SIVR)

Total assets: US$3.71 billion
Unit price: US$53.71

The Aberdeen Standard Physical Silver Shares ETF’s investment objective is for its shares to reflect the performance of the silver price less the expenses of the trust’s operations. It has an expense ratio of 0.3 percent.

This ETF comes with the same warnings as the iShares Silver Trust.

The fund is backed with 45.51 million ounces of silver held with JPMorgan Chase Bank in London in a secured vault.

4. ProShares Ultra Silver ETF (ARCA:AGQ)

Total assets: US$1.33 billion
Unit price: US$107.32

The ProShares Ultra Silver ETF, established in 2008, was designed to offer daily investment results that correspond with twice the daily performance of the Bloomberg Silver Subindex. Because of this, the ETF is aimed at investors who are bullish on silver and able to monitor their investments on a daily basis.

The fund uses derivatives such as futures contracts to invest in silver and has an expense ratio of 0.95 percent.

5. ProShares UltraShort Silver ETF (ARCA:ZSL)

Total assets: US$73.71 million
Unit price: US$9.51

The ProShares UltraShort Silver ETF is designed to provide investors with a hedge against declines in the silver market. ProShares launched it alongside the ProShares Ultra Silver ETF in late 2008. It also has an expense ratio of 0.95 percent.

Because the fund is built around providing results at a negative two times daily performance of the Bloomberg Silver Subindex, it is meant for traders who have a high capacity for risk and who are willing to monitor their positions on a daily basis. The fund should be treated in the same way as the Ultra Silver ETF.

5 ETFs for exposure to silver-mining stocks

1. Global X Silver Miners ETF (ARCA:SIL)

Total assets: US$3.93 billion
Unit price: US$77.66

The Global X Silver Miners ETF gives investors access to a basket of silver-mining and royalty stocks. The ETF benefits from the fact that these companies can climb when the silver price is rising. It also allows investors to avoid the risks associated with individual companies and lets them add geographical diversity to their portfolios.

This ETF has an expense ratio of 0.65 percent, and its top holdings include streaming company Wheaton Precious Metals (TSX:WPM,NYSE:WPM) at a weight of 22.5 percent, Pan American Silver (TSX:PAAS) at a weight of 12.3 percent and Coeur Mining (NYSE:CDE) at 8.1 percent.

2. Amplify Junior Silver Miners ETF (ARCA:SILJ)

Total assets: US$2.97 billion
Unit price: US$26.09

The Amplify Junior Silver Miners ETF bills itself as the ‘first and only ETF to target small cap silver miners.’ The index provides a benchmark for investors to track public small-cap companies in the silver space.

The ETF has an expense ratio of 0.69 percent and its holdings span Canada, the US and the UK, with key silver companies such as Hecla Mining Company (NYSE:HL) at a weight of 11.3 percent, First Majestic Silver (TSX:AG,NYSE:AG) at 10.3 percent and Coeur Mining at 8.7 percent.

3. iShares MSCI Global Silver Miners ETF (BATS:SLVP)

Total assets: US$630 million
Unit price: US$31.59

The iShares MSCI Global Silver Miners ETF tracks an index composed of global equities of companies primarily engaged in silver exploration or metals mining.

The ETF has the lowest expense ratio of the three ETFs focused on silver stocks at 0.39 percent.

The large majority of companies in its holdings, about 69 percent, are traded on Canadian exchanges, and companies on US and Mexican exchanges combine for 27 percent.

The top three holdings for the iShares MSCI Global Silver Miners ETF are Hecla Mining at a weight of 15.5 percent, Industrias Peñoles (BMV:PE&OLES) with a weight of 11.7 percent and Fresnillo (LSE:FRES) at 10 percent.

4. Sprott Silver Miners & Physical Silver ETF (NASDAQ:SLVR)

Total assets: US$453.7 million
Unit price: US$51.31

The Sprott Silver Miners & Physical Silver includes a combination of physical silver holdings as well as equities, setting it apart from the other silver-mining ETFs on the list.

The fund launched in January 2025, making it one of the newest entries to the list. Its management fee is 0.65 percent.

This silver ETF’s second largest holding is its counterpart Sprott Physical Silver Trust, which provides investors exposure to physical silver, at a 14.3 percent weight. Its other top holdings are First Majestic Silver at 27.12 percent and Endeavour Silver (TSX:EDR,NYSE:EXK) at 10.6 percent.

5. Sprott Active Gold and Silver Miners ETF (NASDAQ:GBUG)

Total assets: US$134.42 million
Unit price: US$41.18

Established in February 2025, the Sprott Active Gold and Silver Miners ETF is designed to provide investors broad access to both gold and silver equities. Additionally, as an active fund, it will see more frequent rebalancing to increase the potential of better returns for investors.

The fund’s top holdings consist of OceanaGold (TSX:OGC,OTCQX:OCANF) weighted at 4.32 percent, G Mining Ventures (TSX:GMIN,OTCQX:GMINF) at 4.18 percent and Equinox Gold (TSX:EQX,NYSEAMERICAN:EQX) at 4.16 percent.

Its management fee is 0.89 percent.

What is Bitcoin and who invented it?

Created as a response to the 2008 financial crisis, the concept of Bitcoin was first introduced in a nine-page white paper titled “Bitcoin: A Peer-to-Peer Electronic Cash System” on October 31, 2008, on a platform called Metzdowd.

The manifesto was penned by a notoriously elusive person (or persons) who used the pseudonym Satoshi Nakamoto. The author(s) laid out a compelling argument and groundwork for a new type of cyber-currency that would revolutionize the monetary system.

Cryptographically secured, Bitcoin was designed to be transparent and resistant to censorship, using the power of blockchain technology to create an immutable ledger preventing double-spending. The true allure for Bitcoin’s early adopters was in its potential to wrestle power away from banks and financial institutes and give it to the masses.

This was especially enticing as the fallout from the 2008 financial collapse ricocheted internationally. Described as the worst financial crisis since the Great Depression, US$7.4 billion in value was erased from the US stock market in 11 months, while the global economy shrank by an estimated US$2 trillion.

On January 3, 2009, the Genesis Block was established, marking the beginning of Bitcoin’s blockchain, onto which all additional blocks have been added. The Genesis Block contained the first 50 Bitcoins ever created and a simple message: “The Times 03/Jan/2009 Chancellor on the brink of second bailout for banks.”

Many believe the message hints at Bitcoin’s mission, as it references an article in The London Times that criticized the British government’s inadequate response to the financial crisis of 2007 to 2008, particularly the government’s inability to provide effective relief and support to the struggling economy.

Bitcoin price chart from August 2011 to December 31, 2015.

Chart via TradingEconomics.com.

Bitcoin price chart from January 1, 2016, to December 31, 2019.

Chart via TradingEconomics.com.

Bitcoin price chart from January 1, 2020, to December 31, 2022.

Chart via TradingEconomics.com.

Bitcoin’s powerful performance cannot be understated as evidenced by its price performance in the later half of 2023 and so far in 2024.

Concerns with the banking system led the price of Bitcoin to rally in March 2023 to US$28,211 by March 21 after the failure of multiple US banks alarmed investors.

In Q2 2023, Bitcoin continued its ascent, stabilizing above US$25,000 even as the US Securities Exchange Commission (SEC) filed lawsuits against Coinbase Global (NASDAQ:COIN), along with Binance and its founder Changpeng Zhao.

Although it looked like bad news for the sector, Bitcoin stayed steady, holding above US$25,000. This was supported by BlackRock (NYSE:BLK), the world’s largest asset manager, filing for a Bitcoin exchange-traded fund with the SEC on June 15.

Bitcoin’s price jumped above US$30,000 on June 21, 2023, and on July 3, 2023, the crypto hit its highest price since May 2022 at US$31,500. It held above US$30,000 for nearly a month before dropping just below on July 16, 2023. By September 11, 2023, prices had slid further to US$25,150.

Heading into the final months of the year, the Bitcoin price benefited from increased institutional investment on the prospect of the SEC approving a bevy of spot Bitcoin exchange-traded funds by early 2024. In mid-November the price for the popular cryptocurrency was trading up at US$37,885, and by the end of the year that figure had risen further to US$42,228 per BTC.

2024 Bitcoin price performance

Bitcoin price chart from January 1, 2024, to November 6, 2024.

Chart via TradingEconomics.com.

Once the SEC’s approval of 11 spot Bitcoin ETFs hit the wires, the price per coin jumped again to US$46,620 on January 10, 2024. These investment vehicles were a major driving force behind the more than 42 percent rise in value for Bitcoin in February; it reached US$61,113 on the last day of the month.

On March 4, Bitcoin surged almost 8 percent in 24 hours to trade at US$67,758, less than 2 percent away from its previous record, and on March 11 it hit a new milestone, surpassing the US$72,000 mark. Three days later, on March 14, Bitcoin reached its highest-ever recorded price of US$73,737.94, surpassing the market cap of silver.

Bitcoin often surges leading up to the halving events, which is when Bitcoin rewards are halved for miners. The most recent came in April when the reward for completing a block was cut from 6.25 to 3.125 Bitcoin.

Several sources cited the 2024 halving as one of the forces that drove the price of Bitcoin to its newest high.

The halving occurred at around 8:10 p.m. EDT on a Friday, and Bitcoin’s price remained stable within the US$63,000 to US$65,000 range over the ensuing weekend. On April 22, the Monday following the halving, it was slightly above US$66,000.

While Bitcoin’s price stayed relatively stable, the cryptocurrency’s trading volume experienced significant fluctuations through that weekend, with a 45 percent increase from April 19 to April 20 followed by a 68 percent decline on April 21. Between April 30 and May 3, it fell as low as US$56,903 following the Federal Reserve’s April policy meeting, which did not produce a rate cut.

Reports that the SEC was moving to approve spot Ether ETFs in May sent the price of Bitcoin climbing again alongside that of Ether, the native token of the Ethereum blockchain, which serves as the foundation for these ETFs. Bitcoin passed US$71,000 for the second time ever at 8:00 p.m. EDT on May 20, days before the SEC approved spot Ether ETFs on May 23.

Bitcoin hovered between US$67,000 and US$69,000 for the remainder of the month and into the middle of June. It fell back below US$67,000 on June 13 and moved lower the next day when the Federal Reserve opted to delay lowering interest rates once again.

Losses picked up speed through late June and continued in July, with analysts pointing to uncertainty over post-election regulations, Germany’s sell-off of seized Bitcoin assets and concerns about the impact of the defunct trading platform Mt. Gox on the token market. Bitcoin dropped to a two-month low of US$55,880 on July 8, but quickly recovered most of its losses after Federal Reserve Chairman Jerome Powell’s congressional testimony on July 9 that signaled rate cuts may not be far off.

As crypto gains wider acceptance and accessibility, with more traditional financial institutions and products incorporating digital assets, the type of risk that Bitcoin represents has evolved. Bitcoin was primarily seen as a highly speculative alternative investment. Now, with expanding institutional interest, it is increasingly seen as a ”risk-on” asset – meaning its price movements are influenced by market sentiment, investor confidence and broader economic conditions.

A rise in Bitcoin’s price ensued after the July 13 assassination attempt of US presidential candidate Donald Trump, who has been actively endorsing the crypto industry for support. Bitcoin rose from US$57,899 to US$66,690 in the week following the incident as the odds of a Trump victory were seen to improve, highlighting the impact of regulatory uncertainty on the market. However, Bitcoin’s price didn’t experience any significant pullbacks in the week after current US President Joe Biden dropped out of the race on July 21 and current Vice President Kamala Harris took over as the new nominee.

Other significant developments affecting Bitcoin during the summer included the underwhelming performance of spot Ether ETFs, fears of a US government Bitcoin sell-off, Trump’s proposed national Bitcoin stockpile and Trump’s declining chances of winning the election as support for Harris snowballs.

Bitcoin experienced a tumultuous August, with its price plummeting alongside other digital assets and the stock market on August 5th. Several factors triggered this sell-off, including weaker-than-expected economic data on August 2 and an unexpected interest rate hike in Japan. These events sparked panic in Asian markets, leading investors to liquidate high-risk assets like Bitcoin.

Despite a brief recovery, Bitcoin continued to fluctuate throughout August, dropping to US$58,430 on the weekend of August 10 and 11, and experiencing further price swings between US$60,700 and US$56,700. While positive inflation data boosted the stock market, Bitcoin struggled to break past a US$60,000 ceiling.

A brief rally on August 23rd, prompted by the Federal Reserve’s signal to begin lowering interest rates, was quickly followed by another price drop. This pattern of rallies and subsequent declines persisted for the remainder of August and most of September. Bitcoin ended the month at just above US$64,540.

During the lead up to the 2024 US presidential election had a notable affect on Bitcoin’s price movements, with the Republican party generally seen as more ‘crypto-friendly’ than the Democrats. On October 28, PolyMarket, bettors favored Trump with a 66.1 percent probability of winning compared to Harris’ 33.8 percent. This translated into a 7 percent gain in a little over 24 hours on October 29 to flirt with the previous all-time high, coming in at US$73,295.

A few days later on November 3, Trump’s lead would seemingly narrow with the gap closing to 55 percent for Trump and 44.3 percent for Harris. The Bitcoin price responded by dropping to US$67,874 on November 4.

Bitcoin set a then high price on November 6, 2024, when it reached US$76,243 per BTC at 4:00 p.m. EST. This price came after the 45th US President Donald Trump made a stunning political comeback to become the 47th US President. His retaking of the presidency was heralded as hugely positive for the cryptocurrency market.

“We have a #Bitcoin President,” Michael Saylor, founder of Bitcoin development company Strategy (NASDAQ:MSTR), posted on X.

Bitcoin crossed the US$100,000 threshold for the first time on December 4, 2024, rising as high as US$103,697.

What is the Bitcoin price today?

As of December 1, 2025, Bitcoin is trading around the US$87,000 level after spending much of November on a steady decline.

Earlier in 2025, Bitcoin demonstrated its volatile nature when the price of the cryptocurrency fell to as low as US$75,000 per coin by April 7. This represented a key buying opportunity as crypto buffs were anticipating further strength in the market under Trump.

Soon after, the price of Bitcoin was once again on a steady upward path and breached the US$100,000 level on May 8, and reached its new high above US$126,000 in October.

FAQs for investing in Bitcoin

Is Peter Todd Satoshi Nakamoto?

Canadian software developer Peter Todd has denied he is Satoshi Nakamoto, a claim made by the documentary ‘Money Electric: The Bitcoin Mystery,’ which aired on October 8, based on circumstantial evidence such as posts on an early Bitcoin forum and correspondence between Todd and Hal Finney, who received the first Bitcoin from Satoshi.

Aired on HBO, the film by Cullen Hoback features interviews with people involved in Bitcoin’s creation and suggests that Todd could be the elusive Satoshi Nakamoto who wrote the 2008 white paper that led to Bitcoin’s launch. Reddit posts dating back to 2015 have also suggested that Todd could be Satoshi.

Todd has continuously denied the claim, most recently to multiple media outlets, including CoinDesk and Bloomberg.

What is the Bitcoin halving?

Unlike traditional currencies that can increase circulation through printing, the number of Bitcoins is finite. This limit is a core function of Bitcoin’s algorithm and was designed to offset inflation by maintaining scarcity. There are 21 million in existence, of which 19,952,398 are in circulation as of November 24. This means there are 1,047,602 still unmined.

A new Bitcoin is created when a Bitcoin miner uses highly specialized software to complete a block of transaction verifications on the Bitcoin blockchain. Roughly 900 Bitcoins are currently mined per day; however, after 210,000 blocks are completed, a Bitcoin protocol called a halving automatically reduces the number of new coins issued by half. Halving not only counteracts inflation but also supports the cryptocurrency’s value by ensuring that its price will increase if demand remains the same.

Halvings have occurred every four years since 2012, with the most recent happening on April 19, 2024. The next halving is expected to occur in 2028.

Bitcoin’s halving has significant implications for the cryptocurrency’s mining activity and supply because of how Bitcoin mining works. Currently, miners are paid 3.125 Bitcoin for every block they complete. After the next halving, the pay rate will lower to 1.5625 Bitcoin for every completed block for the next four years.

Is Bitcoin a good investment anymore?

While Bitcoin has reached new heights in 2025, one of its well-known features is its volatility. Investors who are more accepting of risk could look to the cryptocurrency space as there historically has been money to be made, and Bitcoin is regaining value after plummeting in 2022. However, there is also historically money to be lost, and investors who prefer to take smaller risks should look towards other avenues.

For more information on investing in Bitcoin right now, check out our article Is Now a Good Time to Buy Bitcoin?

Key trends in humanoid robotics

According to Samimi, recent trends in robotics include enhanced automation in the industrial and logistics sectors.

“We’re seeing a lot of new trends on foundation models and control stacks within the robotic sector, as well as new sorts of electronic assemblies to put all of these components together,” he explained, pointing to companies like Amazon (NASDAQ:AMZN), BMW (ETR:BMW,OTC Pink:BMWKY) and Mercedes-Benz Group (ETR:MBG,OTC Pink:MBGAF) as current adopters of humanoid robots in factories and warehouses.

Additionally, Samimi highlighted that recent battery advances have improved energy density, enabling longer robot operation for industrial and logistics tasks. Meanwhile, lighter, more efficient actuators enhance precision and energy use, supporting dynamic interaction and human collaboration.

Finally, advances in robotics control systems are powered by cutting-edge AI algorithms. Platforms like RideScan, a Humanoid Global portfolio company, harness continuous, independent AI-driven monitoring, risk scoring and anomaly detection to optimize robot performance. The company recently filed a patent in the UK for its core AI technology

Samimi added that safety and reliability remain critical focal points amid these technological advances.

Advances in algorithms, machine learning and operational intelligence systems are enabling comprehensive, scalable safety and maintenance solutions for robots deployed across different facilities, supported by digital twin technologies and a closed-loop data cycle for continuous improvement.

Addressing labor shortages via robotics

Labor shortages and constrained supply chains are accelerating innovation by prompting industrial sectors to adopt robotics to augment limited labor resources.

The 2025 MHI Annual Industry Report, a document that covers emerging disruptive technologies, confirms robotics is thriving amid labor shortages and rising complexity in logistics and manufacturing.

During the US-Saudi Investment Forum, Tesla (NASDAQ:TSLA) CEO Elon Musk made a bold prediction about the long-term effects of robotics and AI: work will become optional, and money will be obsolete.

“I don’t know what long term is — maybe it’s 10, 20 years or something like that,” Musk said, adding that there is still a lot of work to be done before society gets to that point.

In the meantime, the workforce will likely see more human-robot collaboration. Samimi said he has observed that humanoid robots and collaborative robots (cobots) are increasingly taking over repetitive manual tasks.

“Human labor now shifts to more, higher-value tasks, rather than moving a warehouse box or a palette from A to B. So we’re seeing somewhat of a shift (that’s) helping make labor more scalable and more productive, and really less dependent on that shrinking labor pool,” he said.

Resource-heavy and industrial sectors present strong opportunities for robotics, especially amid a limited labor pool. Areas like agriculture, mining, pharmaceuticals and lumber stand to benefit from automation and upskilling via robotics.

Robotics investment thesis and portfolio evaluation

Humanoid Global views its role not only as an investor, but also as an ecosystem builder, actively fostering collaboration and knowledge sharing across its portfolio companies.

By strategically connecting early stage innovators with mature industry players, Humanoid Global seeks to accelerate the global deployment and scale of humanoid robotics technologies.

The firm emphasizes balancing risk across a portfolio that includes both disruptive technology developers and companies closer to full commercial deployment, allowing for diversified exposure while driving integrated growth.

Companies are evaluated with a strong prioritization for teams with proven execution capabilities and sustainable technological moats, such as proprietary IP or unique data networks. Scalability and clear go-to-market strategies are equally important, as is a strong safety architecture embedded in the technology.

This approach highlights the importance of strategic relationships, market education and risk-managed growth in realizing the transformative potential of humanoid robotics.

Building social license

Much of Debruyne’s role over the past five years has centered on improving engagement with Indigenous communities, many of which have deep historical grievances tied to land, water and the impact of large-scale resource extraction.

“It’s really about being the best neighbor possible,” he said.

But getting there has required fundamental shifts in mindset and method. One of the clearest examples is what Debruyne called the principle of horizontality — a change born from early missteps.

A decade ago, when communities questioned the mine’s hydrological impacts, SQM responded the way many industrial operators would: it sent engineers to explain the technical data.

“You would think that’s a great thing to do,” Debruyne said. “But we learned that’s not the right way, because community members aren’t hydrologists. There’s a vertical difference.”

Instead, SQM now helps communities secure independent experts of their choosing, ensuring conversations happen “on a horizontal level.” This shift has been crucial to rebuilding trust.

Just as important, Debruyne said, is abandoning the western notion of time.

“Communities have a different concept of time. It’s about giving them the time they need — taking information back, returning, iterating. You may think you’re doing things the right way, but there’s always room for improvement.”

Why social investment reduces risk

For Oxfam policy advisor Andrew Bogrand, these types of changes are not just ethical — they’re also practical.

The expert, who also spoke on the panel, noted that since 2010, more than 800 protests or violent incidents have occurred around mine sites globally, including 300 since 2021 alone.

Each one carries real costs: slowdowns, legal expenses, rising insurance premiums — and, as Bogrand pointed out, the hidden cost of executive time diverted to crisis management.

“There is a win-win solution,” he told the Benchmark Week audience. “It’s engaging communities, making sure everyone’s on the same page. Sometimes the solutions are very simple.”

As an example, he pointed to mining projects where warning messages were sent in English to communities that do not speak the language, or where key safety information was delivered over SMS when what residents needed was a physical noticeboard in their own dialect.

Bogrand described companies that “step over a dollar to pick up a penny” — refusing modest community requests, only to face shutdowns costing tens of millions of dollars.

Transparency: A tool, not a threat

Debruyne described transparency as one of SQM’s most effective tools, even if it initially felt counterintuitive.

A few years ago, the company made all hydrological data from its government reporting publicly accessible online.

“I was bracing myself,” he said, expecting to receive dozens of questions about brine levels. But counter to his fears, transparency defused tension rather than fueling it. “I received complete silence,’ Debruyne noted.

It also created a foundation for future collaboration, including joint environmental monitoring programs with communities that had refused to speak with SQM for years.

Moving slow to move fast

The tension between rapid industry growth and slow, iterative sustainability processes often surfaces in investor discussions. For Bogrand, the answer is simple: “You have to move slow to move fast.”

Rushing early stage engagement almost always backfires, he argued, while early investment in community relationships pays dividends across the life of a mine.

Debruyne echoed this idea, noting that patience, consistency and presence — not promises — win trust. In one case, SQM organized a visit for Atacama Indigenous women leaders to electric vehicle and battery plants in Germany and Poland, allowing them to see firsthand where lithium fits in a finished product.

One participant, surprised that the metal formed only a thin coating on a cathode, admitted she had imagined an “Avatar-like” scenario where mines destroyed massive volumes of land for each battery.

“Because they don’t have visibility on the value chain, they make interpretations, which is human,” Debruyne told listeners. “Dialogue is so important.”

Both Debruyne and Bogrand agree that the lithium supply chain cannot scale without social acceptance, credible transparency and deep engagement with affected communities.

As Debruyne noted, “Ultimately, it’s about people.”