Financialization, totality and planetary urbanization in the Chilean Andes

Abstract

In a context of planetary urbanization, where vast swathes of the countryside are being enclosed on an ongoing basis in order to support a sprawling urban system, the relationship between finance and land-use change needs to be brought to the forefront. By engaging with Henri Lefebvre’s ideas of levels and totality, this paper draws analytical connections between the financialization of the transnational mining industry and the production of the financialized urban everyday in geographies of extraction. The paper does this by looking at the case of Pascua Lama, a multibillion open-cast mine to be developed in Chile by a major mining company in the context of the current global gold rush. Through this case, I show how a set of strategies pursued by financiers and corporate managers thousands of kilometers away from the extraction site, resulted in fractured spaces of urbanization shaped by socioecological plunder, dispossession and geographically uneven financial landscapes.