Now this will be interesting - Mexico and Lithium mining

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From People's Dispatch:

Mexico nationalizes lithium industry
Mexico has officially nationalized its lithium industry. On April 21, the bill, proposed by President Andrés Manuel López Obrador (AMLO), that modified the mining law to give the state the exclusive right to explore, exploit and use the valuable metal entered into force. According to the law, published in the Official Gazette of the Federation, the executive or the president now has 90 days to create a decentralized state company that will deal with all lithium-related matters.

The reform was approved in a record time in both houses of the Congress. President AMLO presented it in the Chamber of Deputies on April 18. The same day, the lower house discussed the reform, voted on it and passed it with 275 votes in favor, 24 against and 187 abstentions. The next day, on April 19, the Senate also debated the reform and sanctioned it with 87 votes in favor, 20 against and 16 abstentions.

Interesting to see what will happen - their Petroleum industry is nationalized.  Lithium?  Key ingredient for batteries for electric vehicles. More:

The new mining law recognizes lithium as a heritage of the nation, and reserves it for the benefit of the people of Mexico. It elevates lithium to the category of “strategic mineral”, and prohibits granting concessions, licenses, contracts, permits, assignments or authorizations for its exploitation to private corporations.

Current Lithium mining?

There is only one lithium mine in Mexico, operated by Chinese firm Ganfeng Lithium, which is slated to produce 35,000 tonnes of the metal per year starting in 2023. In the coming days, it will be discussed if that will be taken over by the government.

Heh - sucks to be them...  Good for Mexico.  We have Lithium too but the enviro-weenies don't want anything done here.  They are 100% OK with irresponsible mining in South America stripping out the forests and putting children to work hauling rocks (this is for Cobalt - also needed). After all, they covet their neighbors Tesla. A responsible mine here? Not gonna happen.

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This page contains a single entry by DaveH published on April 26, 2022 1:37 PM.

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