Lithium Projects Require Time and Foreign Investment
Two lithium deposits were recently found in Baja California. Nonetheless, experts in the industry have said that the Mexican government is wrongly focusing on lithium extraction rather than battery production. In addition, the state’s government is looking for foreign investment to exploit the resource and expressed that a long-term project is needed for adequate process development.
Read this and more in your weekly roundup!
Mexico Might be Focusing on the Wrong Lithium Segment
The Mexican government is misdirecting its efforts by focusing on lithium extraction rather than prioritizing its production of batteries, according to a study by BloombergNEF. In addition, Mexico must overcome several barriers if it wants to be part of the lithium boom.
Lithium in Baja California is a Long-term Project, Minister Says
Authorities of Baja California found lithium deposits and expressed their willingness to exploit them. Nevertheless, the local Minister of Energy said production in the near future is unachievable since the development process requires time.
Foreign Investment Needed to Exploit Baja California’s Lithium
Two lithium deposits were found in Baja California and authorities are now looking for foreign investors to extract it. Kurt Honold Morales, Head of Baja California’s Ministry of Economy and Innovation, said the state seeks to join the manufacturing supply chain of electric vehicles (EVs).
Almaden Minerals Signs Further Community Cooperation Agreement
Almaden Minerals announced that, as part of the social and environmental efforts of its subsidiary Minera Gorrión, it signed a cooperation agreement with the ejido Santa Maria Zotoltepec. The company said it will launch agricultural and soil restoration projects to ensure the well-being of the surrounding communities.
Minera Gorrión Signs Cooperation Agreement with Community
Minera Gorrión and 60 ejidatarios of the Santa María Zotoltepec community in Ixtacamaxtitlán, Puebla signed a collaboration agreement. The community members will receive support consisting of improved seeds and quality pesticides for agricultural use as well as training.
Peñasquito and Peñoles to Develop IoT Network
Peñasquito and Peñoles have been authorized to use radio frequencies and develop their Internet of Things (IoT) network. The companies aim to optimize their processes and enhance safety for mine workers. Experts in the industry have agreed that the sector could be developed further through digitalization and become more integrated as well as responsible by doing so.
Agnico Eagle Reports Record Gold Production
The Canadian mining company Agnico Eagle reported financial and operating results for the fourth quarter and full year of 2022, as well as its future operating guidance, revealing record gold production in the year due to a solid operational performance and significant strategic consolidation.