Mexico President orders ministry to step up lithium nationalization. mining miningnews
While close to a dozen foreign companies have active mining concessions that aim to develop potential lithium deposits, Lopez Obrador has said all of them will be “reviewed,” which has cast a cloud over the sector’s future prospects.
“What we are doing now … is to nationalize lithium so that it cannot be exploited by foreigners from Russia, China or the United States,” Lopez Obrador said at the event.Reuters that Mexico was open to partnerships but that the federal government would have a majority stake in any future joint venture.
The decree published Saturday by the economy ministry said that “the rights and obligations of the holders of mining concessions in force that are within the lithium mining reserve zone remain safe.” It adds that “no mining activity related to lithium” can be carried out within the reserve but gave few additional details.
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