Battery raw material: Mexico founds state-owned lithium company

Battery raw material: Mexico founds state-owned lithium company

Andres Manuel Lopez Obrador

The Mexican President places lithium mining under state control.

(Photo: IMAGO/ZUMA Wire)

Mexico City In view of the increasing global demand for lithium, the Mexican government has founded a state-owned company to mine and market the light metal. The raw material, which is important for electric cars, will in future be exclusively produced by the company Litio para México (Lithium for MexicoLitioMx for short) is produced and distributed, according to a decree by President Andrés Manuel López Obrador on Tuesday.

LitioMx will operate independently of the Department of Energy and will be up and running in no more than six months.

In April, the mining law in Mexico was reformed. Since then, only the state has been allowed to explore, mine and sell lithium deposits. Lithium is not yet being mined in Mexico, although a number of concessions have already been awarded. These contracts are now to be reviewed.

Lithium is required, among other things, in the construction of electric vehicles. The ions from the alkali metal salts are essential for transporting the electrical charge in most modern high-performance batteries. According to a market study, the demand for lithium could increase fivefold in the next 35 years.

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