AMLO Criticizes COFECE for Approving Lithium Acquisition
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AMLO Criticizes COFECE for Approving Lithium Acquisition

Photo by:   Gobierno de México
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Paloma Duran By Paloma Duran | Journalist and Industry Analyst - Wed, 02/16/2022 - 11:41

President López Obrador said that the country's sovereignty is in danger since the Federal Commission for Economic Competition (COFECE) accepted the acquisition of the Sonora Lithium deposit by the Chinese company Ganfeng Lithium. In addition, López Obrador said that the Commission's actions are offensive because they go against presidential instructions. “They authorized a lithium mine to pass into the hands of a Chinese company without informing the head of the Executive. This is unacceptable because it is very clear that there is a defense policy for this strategic mineral resource, which we want the nation to have. In addition, we have a policy of no new concessions.”

Furthermore, López Obrador stressed that the US had reproached the Mexican authorities for this purchase because China is considered its biggest commercial competitor. The president said he does not want to enter into international conflicts and that these acquisitionsmust not be approved to avoid misunderstandings.

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Photo by:   Gobierno de México

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