The Strategist

Mexico approves nationalisation of lithium mining companies



04/20/2022 - 11:16



The plenum of Mexico's upper house of congress has generally approved a reform of the mining law, establishing lithium as a national treasure and giving the state exclusive rights to its exploration, development and industrial use.



peakpx
peakpx
"By 87 votes in favour, with 20 against and 16 abstentions, the draft reform of the Mining Act on the exploration and exploitation of lithium was passed as a whole, including articles not tabled for discussion," the Senate said in a post on its Twitter blog.

The draft reform, which was initiated by President Andrés Manuel López Obrador, defines lithium exploration, mining and use as an industry of national importance, where private companies are not granted any concessions, licences, contracts or permits.

The new regulations call for a national company to explore and exploit the mineral, supported by Mexico's Geological Survey.

source: bloomberg.com




More
< >

Thursday, May 12th 2022 - 09:12 EC head announces digital partnership with Japan