Mexico's Lithium Deposits and Industry Developments

According to the US Geological Survey, Mexico boasts an estimated lithium reserve of 1.7 million t, positioning it as a significant player in the global lithium market. However, Mexico's position as an attractive mining destination faces complications. According to the Fraser Institute's 2022 Annual Survey of Mining Companies, the country dropped from 34th to 37th place out of 62 mining countries and jurisdictions. 

Positive developments are underway in Mexico's lithium sector. Silver Valley Metals Corp. has been advancing negotiations with LitioMx to form a partnership for the exploitation of lithium and potassium deposits in Zacatecas and San Luis Potosi.

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Mexico Showcases 82 Lithium Deposits Across 18 States

According to the US Geological Survey, Mexico has an estimated lithium reserve of 1.7 million t. The country has 82 lithium deposits across 18 states, with 13 located in Sonora, 12 in Puebla, nine in Oaxaca, eight in Nuevo Leon, seven in Durango and five in both Chihuahua and Tamaulipas. Coahuila, Guanajuato, Hidalgo, Jalisco, San Luis Potosi and Zacatecas have three each, while Chiapas, Michoacan, Morelos, Sinaloa and Veracruz have one each.

Mexico: 37th Most Attractive Mining Country

Mexico fell among the most attractive countries for mining investment, according to the Fraser Institute’s 2022 Annual Survey of Mining Companies. The country went from rank 34th to 37th in a list featuring 62 mining countries and jurisdictions. This is Mexico's worst ranking in the last five years. 

Silver Valley Metals Advances Partnership Talks With LitioMx

Silver Valley Metals Corp. announced advances in the negotiations with LitioMx to form a partnership that will allow the exploitation of lithium and potassium deposits in Zacatecas and San Luis Potosi. According to the company, the negotiation solely focuses on the lithium component of the deposits, which represents a calculated resource of 243,000mt of lithium carbonate at an average depth of just 5m.

Exxon Mobil Shifts Focus to Lithium Extraction for EV Market

Exxon Mobil is focusing on lithium extraction as it prepares for a future less reliant on gasoline. The Texas-based oil giant recently acquired drilling rights in Arkansas, where it plans to produce lithium. This move reflects Exxon's recognition that demand for internal combustion engines may soon peak. 

CyPlus Idesa Highlights Safety Commitment During Weeklong Event

In commemoration of World Day for Safety and Health at Work, CyPlus Idesa celebrated its Safety Week for a second consecutive year by organizing activities that reinforce its culture and prioritize prevention measures for cyanide manufacturing and its logistics chain.

GoGold Reports Promising PEA for Los Ricos North Silver Project

GoGold Resources published the preliminary economic assessment (PEA) for its silver project, Los Ricos North, located in Jalisco. The PEA demonstrates a robust after-tax net present value of US$413 million, with a 5% discount rate. The project also boasts an impressive after-tax internal rate of return of 29%.