Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Another dispute on the horizon is that of the Chinese company Ganfeng Lithium Group. Its board of directors, headed by Li Liangbin, Wang Xiaoshen and Shen Haibo, acknowledged to its shareholders that it did not reach any collaboration agreement with the Ministry of Economy (SE) on the Lithium Project in Sonora and that it received ratification that they are cancelled. its nine mining concessions. It will be defended with a claim for annulment or with international arbitration; the SE has not registered the issue as an active case or notice of intention to dispute.
https://www.milenio.com/opinion/jesus-rangel/estira-afloja/canacintra-ganfeng-bimbo-y-cosmos
The governments of Mexico and the United States committed to cooperate in the control of foreign investments. Weeks before, Q4 stopped the Ganfeng megaproject.
https://www.lapoliticaonline.com/mexico/economia-mx/276315/
The mining and energy industry in Mexico is about to undergo a significant change thanks to the recent news that LitioMX , the state-owned company dedicated to the exploitation and production of lithium , will receive a critical financial boost. The Development Bank of Latin America and the Caribbean (CAF) has announced its intention to provide financial support to LitioMX , a decision that promises to have a considerable impact on the country's energy sector and, possibly, globally.
https://mineriaenlinea.com/2023/12/litiomx-y-caf-innovacion-en-baterias-de-litio-en-mexico-apoyo-financiero-y-tecnologico/
Neither Ganfeng or us are contesting the Megalit JV concession...which is 10 times the size of La Ventana and the JV lands combined. IMO it all seems like a ploy to slow / stall the progression of Ganfeng whilst the Gov't prove up their extraction process and partner with 'whoever' to mine Megalit. First mover advantage and all that!
In a press conference from Cananea, the president stated that the processes to separate lithium from clay will be carried out with “national technology”, through collaboration between the Government of Sonora, the National Council of Humanities, Sciences and Technologies ( Conahcyt ) and the Mexican parastatal Litio para México (LitioMX).
“We signed an agreement with Conahcyt and its director [María Elena Álvarez-Buylla] shared with me that they are extremely advanced in the technology required to separate lithium from clay, which is totally possible,” he said.
Regarding the litigation initiated by the company Ganfeng Lithium , which previously had a lithium concession in the Sonora field, but which was canceled by the Government of Mexico , Durazo Montaño indicated that the federal Ministry of Economy (SE) is attending to the process. .
“As far as I know, he did not make investments, and he should have made them, but after a long time he did not meet the requirements. By virtue of the nationalization of lithium and the failure to make progress in its use, which the company should have made, led the SE to withdraw the concession,” he explained.
https://proyectopuente.com.mx/2023/11/28/avanzan-conahcyt-litiomx-investigacion-para-separar-litio-de-la-arcilla-en-yacimiento-de-sonora-alfonso-durazo/
"During his conference from the National Palace, the president was asked if he spoke during his tour of San Francisco, California, with Chinese President Xi Jinping about lithium extraction, to which he responded that the issue was addressed and the agreement was reached that Chinese companies would have to agree with the Mexican company LitioMx to be allowed to operate."
https://www.elsoldepuebla.com.mx/finanzas/amlo-podria-permitir-que-empresas-extranjeras-exploten-litio-en-mexico-11063233.html
Sounds like Ganfengs efforts aren't going well, or, they've sacrificed the JV areas for their 100% owned La Ventana. Could quite possibly be to apply extra pressure on the Gov't.
Whichever...We definitely aren't contesting the largest JV concession...Megalit.
https://drive.google.com/file/d/118w2y821Tiziuf_xNA-eEQZ2gG4Fc8au/view?usp=sharing
Interesting headline....
"The concessions of the Sonora field would pass to the state-owned LitioMx."
https://expansion.mx/empresas/2023/11/14/concesiones-yacimiento-sonora-pasaran-estatal-litio-mx
Oh @Zoom..for someone who 'joins the dots'...you seem to forget how and why we are involved in the first place, and who introduced us to Indo and for what reasons they wanted an investor.... I'm back tomorrow so will elaborate 😉.