George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
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following on from the thread I posted on 12th June, this can only add to the environmetal challenges that US miners face in Nevada and Thacker Pass already under scruitiny!
https://www.youtube.com/watch?v=jqJ6PywbcsQ
And then there was this Reuters news item in March 2019:
LIMA (Reuters) - Southern Copper Corp, one of the world’s biggest copper producers, is considering an investment in a lithium project in Mexico that has also attracted interest from a Chinese firm, the company’s chief executive told Reuters on Wednesday. Oscar Gonzalez said company officials visited the lithium project in the state of Sonora, Mexico, although he could not recall the name of the Canadian miner he said was “trying to sell it.”
https://www.reuters.com/article/us-peru-southern-copper/southern-copper-eyes-lithium-project-in-mexico-ceo-idUSKCN1QU36X
If there were any money to be made in Sonora lithium, it’s likely that NYSE-traded Southern Copper Corporation would be interested. If you want to fantasize about a white knight, you can imagine they are waiting in the wings. If you believe Ganfeng made its offer as a defensive move to prevent some other company from acquiring more than 50%, it’s not unreasonable to wonder if they were looking over their shoulder at SCCO.
It’s a $52 billion company headquartered in Arizona, a day’s drive from Bacanora and with operating mines even closer in Sonora. About 89% of it is owned by Mexican mining conglomerate Grupo México, headquartered in Mexico City.
Southern Copper is the world's largest publicly traded copper mining company and the world's seventh largest copper mining company. In addition, the firm is the eighth largest copper smelting company. The firm ranks among the world's largest producers of molybdenum, silver, and zinc.
Their lack of interest in BCN so far speaks volumes. But the game is not over. I saw a headline today, from a story blocked from non-subscribers, about Mexican interest in buying Bacanora being a false rumor. I am not trying to advance such a rumor. I just wish there were a place for some intelligent discussion about alternative buyers for BCN.
Very hard to read the post subject line without mentally adding 'but it won't benefit us on this lse board'
https://www.reuters.com/article/usa-mining-lithium-americas-idINL2N2NS3A0
Thacker pass delayed a few weeks due to a court hearing on environmental concerns, looks like something was passed in the courts in the final week of Trumps administration - Bureau of Land Management approval being challenged!
https://www.mining.com/web/us-must-work-with-allies-to-secure-electric-vehicle-metals-white-house/
Securing enough copper, lithium and other raw materials to make EV batteries is a major obstacle to Biden’s aggressive EV adoption plans, with domestic mines facing extensive regulatory hurdles and environmental opposition.