The Purchase of Ganfeng Lithium Was Not a Risk: COFECEBy Paloma Duran | Wed, 02/02/2022 - 14:17
After President López Obrador criticized the Federal Economic Competition Commission (COFECE) for authorizing the acquisition of the Sonora lithium deposit by Chinese company Ganfeng Lithium, COFECE replied that the purchase did not represent any risk to competitors or consumers. In addition, the commission explained that the country's laws allow national and international investments, for which Ganfeng Lithium had the right to request an acquisition.
However, López Obrador criticized COFECE for having more powers than him and be able to deliver national goods to foreign companies. In addition, López Obrador said that the US reproached the Mexican authorities for this purchase because China is considered the US´ biggest commercial competition. In reference to this, López Obrador said he wishes not to enter into conflicts and that these permits must be reviewed thoroughly and avoid any misunderstandings.
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