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ECONOMY | 03-05-2022 14:32

Mexico seeks lithium ‘partnership’ with Argentina, Bolivia and Chile

Mexico seeking alliance with Argentina, Bolivia and Chile to share experiences regarding exploitation of lithium, President Andrés Manuel López Obrador said Tuesday.

Mexico is seeking an alliance with Argentina, Bolivia and Chile to share experiences related to the exploitation of lithium, President Andrés Manuel López Obrador said Tuesday.

The purpose "is to create an association with the aim of helping each other", said the leftist leader, indicating that he had already discussed the issue with Bolivia President Luis Arce.

López Obrador recently oversaw the nationalisation of the country’s lithium industry, granting the state exclusive rights over the metal.

The Mexican leader said Tuesday that the governments of Argentina and Chile have also shown interest in joint cooperation, despite the fact that in those countries lithium mining is in private hands. 

Bolivia, like Mexico, has also nationalised lithium production.

"There are coincidences and we are already working together for all the development that has to do with exploration, processing and new technologies," the president said at his regular daily press conference.

On April 19, Mexico’s Congress approved a reform to the national mining law that put exploitation of lithium in the hands of the state, which will review eight concessions granted to private companies by previous governments.

Mexico has lithium projects in exploratory phases, but according to experts it has yet to be determined whether there are sufficient reserves to make exploitation profitable.

According to the US Geological Survey, Chile is the world's second-largest lithium producer and Argentina the fourth, while Bolivia has the largest reserves.

Lithium, also known as "white gold", is essential for new technologies, as it is used in batteries for various devices and electric cars.

 

– TIMES/AFP
 

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