No Expropriation Risk for Lithium Concessions

The Mexican government reported it will respect lithium concessions that were granted during previous governments, said Minister of Interior Adán Augusto López. “Lithium is the property of the nation, so we are going to regularize it for its exploitation. The permits previously granted will be respected and will remain in force." In addition, López said that although the future of lithium will be debated in 2022, the country has already received eight requests for exploration.

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Mexico Could Have A Lithium Alliance With Chile

Chile´s newly elected president Gabriel Boric, has been invited to visit Mexico and meet with Mexican authorities to formally establish a strategic alliance, where the main opportunities of both countries such as lithium will be discussed.

New Modifications to the Mining Law

A new initiative to reform Mexico´s Mining Law aim to recover and improve the way mining work is being drafted by MORENA´s Senator Napoleón Gómez Urrutia. The new initiative will give the State greater control over critical resources, as private companies are accused of acting irresponsibly and generating a negative impact.

New Senate Bill Seeks to Return Profits to Mining Communities

Last week, Durango Senator Alejandro González Yáñez introduced a new bill that seeks to create local citizen councils that will manage policy initiatives, bringing development and wellbeing to mining communities. The initiative also contemplates the involvement of the Ministry of Finance and Public Credit (SHCP), considered the entity in charge of creating guidelines for future local councils, as well as the Federal Superior Audit Office (ASF) to continuously check the correct use of funding to prevent any possible corruption.

Mexican Mining Industry Underperformed in 2021

In 2021, the mining industry in Mexico performed worse than expected since the lack of concessions and permits hampered the arrival of incoming investments as well as the development of important mining projects throughout the country. CAMIMEX said that if the Mexican government establishes a better framework, the sector would attract five times its investment value.

Odyssey Marine Exploration’s Fight Against Mexico

Odyssey Marine Exploration's Don Diego sea mining project, which seeks to extract phosphate in Baja California Sur, continues to seek environmental authorization from SEMARNAT. The project is controversial since some of the major Mexican companies that support it say it is a unique opportunity, while others worry about its environmental impact.