Mexican President Andrés Manuel López Obrador has reportedly said April 19 that all contracts to mine lithium in the country will be subject to review as the country gets ready to change its regulations.
According to a Reuters report, Mexico’s lower house of government is seeking to pass a law to nationalize lithium production, resulting in the examination of the contracts and authorizations in place relating to the commodity’s mines.
The report noted that debate on the topic by the Mexican Congress began this week; the proposal is part of a wider bill that would amend its constitution and make energy production guidelines more strict.
While the proposal failed to pass last weekend, if it moves forward it will alter laws in place in Mexico since 1992. In addition to reviews, it would also prohibit private participation in the lithium market, potentially – according to some opponents – setting the groundwork for the government to take control of other minerals, according to Reuters.
Source: Reuters