Government Gears Up to Grant Lithium Concessions in February
Home > Mining > Article

Government Gears Up to Grant Lithium Concessions in February

Photo by:   Saif71.com
Share it!
Fernando Mares By Fernando Mares | Journalist & Industry Analyst - Fri, 01/20/2023 - 17:39

While the private sector is looking to participate in lithium exploitation, the federal government reported it will start granting concessions for this activity in February. Nonetheless, the only company allowed to apply will be the state-owned Litio Para México (LitioMx).

During his visit to Bavispe, Sonora, López Obrador reported that the government will start granting concessions for lithium exploitation on Feb. 19, 2023. However, he made it clear that the only company that will be able to compete is LitioMx. “We will go to La Ventana, Sonora, where the to-be-granted mine will be delivered to a company that belongs to the nation,” said López Obrador, referring to LitioMx. 

According to López Obrador, the most important lithium deposit in Mexico is in Sonora, where the government is already working with the company holding the rights to produce the white gold: Gangfeng Lithium, which has recently acquired Bacanora Lithium, the company that holds the concession for the Sonora Lithium project in Bacadehuachi. Sonora Lithium is Mexico’s main lithium prospect to date. According to Gangfeng’s estimations, the deposit has around 8.8 million tonnes of lithium carbonate. On Sept. 8, 2022, the Governor of Sonora, Alfonso Durazo, said that Gangfeng was willing to work alongside LitioMx. 

López Obrador also announced that he will visit Sonora between Feb. 17 and 19, 2023. He will then also report on the progress of the first construction stage of the solar plant in Puerto Peñasco, which is forecasted to be the largest photovoltaic plant in Latin America. “We will supervise it, the first stage is to be completed, all of this is part of the Sonora Plan,” López Obrador added. 

The Sonora Plan is a project driven by the federal and Sonora governments to transform the state into a clean energy hub. The plan involves lithium exploitation, the manufacturing of batteries for electric vehicles and solar power production. The plan has had support from the US government. 

Additionally, López Obrador will visit Nogales City, which neighbors Arizona in the US, to supervise the construction of a railroad beltway between the cities. López Obrador noted that the project is paramount since it is expected that companies invest in the installation of semiconductor factories in Arizona.

LitioMx is the result of a much-debated reform from Apr. 20, 2022, that nationalized lithium and forbade private companies to extract or harness the mineral.
 

Photo by:   Saif71.com

You May Like

Most popular

Newsletter