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.

The Potassium Sulfate (Lithium-Potassium) project is located in Zacatecas and San Luis Potosi. It is the second most advanced project in Mexico for lithium extraction and it remains open to significant expansion through further exploration work. Brandon Rook, CEO of Silver Valley Metals, confirmed the company is evaluating the development of a sustainable project with LitioMx.

"The relationship between LitioMX and Silver Valley Metals shares a vision to construct the project in a sustainable manner, with a focus on clean extraction technology, community-centered participation, along with solid and transparent governance. This will be the key to our future success. We look forward to finalizing our partnership agreement and moving forward with this exciting project," he shared.

Recently, Pablo Taddei, CEO, LitioMX, pointed out that private companies will be able to join the Mexican lithium industry by partnering with the company. However, the government will still exercise control over the projects.

"In accordance with its founding decree, LitioMX will manage and maintain a majority stake in the necessary activities for the production, transformation and distribution of lithium-derived products, for which it may partner with other public and private companies and institutions," he emphasized.

The key issue is that the federal government still lacks certainty about the amount of lithium in the country and which areas, beyond Sonora, where the first lithium reserve has already been declared and can only be exploited by the State, will join the map of potential deposits with suitable characteristics to become producers.

Aleida Azamar, Researcher, Universidad Autónoma Metropolitana (UAM), told Diálogo Chino there is still a lack of clarity regarding the future of private and foreign participation in the Mexican lithium industry, as the president continues to make contradictory statements about it. Furthermore, she pointed out that there is no clarity about the country’s lithium reserves. There are rumors that states such as Zacatecas, San Luis Potosi and Baja California have indications of possible lithium deposits, but nothing has been confirmed, yet.