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Dale Quinn, Bloomberg News
MEXICO CITY
EnergiesNet.com 04 20 2022
Mexican senators passed a mining bill Tuesday afternoon that confirms state control of lithium exploitation.
President Andres Manuel Lopez Obrador, known as AMLO, presented the initiative after his bid to increase government control of the electricity market failed Sunday. A ruling coalition of lawmakers, led by the president’s Morena party, fast-tracked the bill, getting lower house approval Monday.
Senators approved the bill with 87 voting in favor, 20 against and 16 abstaining. Debate on some articles continued after the vote. Once that discussion concludes, the bill will go to the president to be signed into law.
At his morning press conference Tuesday, AMLO said Mexico will review existing contracts for the extraction of lithium, which has grown increasingly important as a component in rechargeable batteries including for electric cars. Mexico has yet to produce lithium commercially, but previous governments granted permits, including to Bacanora Lithium Plc, which was later bought by China’s Ganfeng Lithium Co.
The president’s policies have prioritized strengthening state-owned companies over private investment.
bloomberg.com 04 19 2002
