Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
CEO Secker is convinced there won’t be any problems
https://eandt.theiet.org/content/articles/2020/09/mexican-drug-cartels-could-mess-up-the-country-s-most-important-lithium-project/
https://www.bacanoralithium.com/cms/wp-content/uploads/2020/06/Bacanora-2020-AGM-QA.pdf
Hermosillo, Sonora; March 15, 2020.- To learn about the pilot plant and the process
metallurgist in obtaining lithium, national financial analysts, staff of the Mining Fund Trust (Fifomi), as well as the Mexican Geological Service (SGM), visited the facilities of the Bacanora Lithium company in the industrial park of Hermosillo.
The Secretary of Economy, Jorge Vidal Ahumada, stressed that the administration of Governor Claudia Pavlovich Arellano is characterized by being a facilitating government and since the first visit of the businessmen, more than 4 years ago where they exposed their project, they were provided with all the facilities for it to develop.
Vidal Ahumada specified that this project represents an investment of 420 million dollars in its first phase in the mining sector and will generate more than a thousand jobs in the construction period.
He added that with lithium, a further window will be opened in the Sonoran supplier as this product represents an input used by the batteries of electric cars and the entrepreneurs have already contacted the managers of Lucid who will be installed in Arizona.
To explain first hand and get to know the plant, those interested were attended by Eric Carter, director of the Sonora Lithium Project and Manuel Cubillas, Country Manager at Bacanora Lithium.
Present by Banobras, Carlos Gabriel Lerma Cotera, Director of Energy; David Talavera Zabre, manager of Financing of Energy Projects; by the Mining Fund Trust (Fifomi), José Alfredo Tijerina Guajardo, general director; Miguel Ángel Covian Mendoza; specialized credit analyst; Luis René Gómez Toledo; as well as Bancmext executives: Salvador Becerra Márquez, director of Internationalization of Companies and Development of New Sectors; Rafael Iván Zárate Luna, Deputy Manager of Business Internationalization and Development of New Sectors.
The National Geological Service included: Flor de María Harp, general director; Francisco Escandón Valle, Héctor Alba Infante, director of Geological Operation; as well as Jeff Easum of Becquerel Capital; and Federico Alberto López Santoyo, Mining Director of the Ministry of the Economy.
https://telemax.com.mx/nota.php?id=5323
https://www.youtube.com/watch?time_continue=4&v=QrXW9S5drUw&feature=emb_logo
Bacanora Lithium PLC's (LON:BCN) Peter Secker tells Proactive London's Andrew Scott they're continuing to make good progress on all its workstreams, in spite of the virus outbreak.
He is talking about granting future mining concessions,saw about about 5/6 articles about this last week,things also get lost in Google translations
https://www.bnamericas.com/en/features/consultations-key-to-mexico-mining-code-overhaul
https://cobertura360.mx/2019/12/27/el-presidente-de-mexico-conoce-el-plan-privado-para-producir-litio-en-sonora/
He is talking about granting future mining concessions,saw about about 5/6 articles about this last week,things also get lost in Google translations
https://www.bnamericas.com/en/features/consultations-key-to-mexico-mining-code-overhaul
https://cobertura360.mx/2019/12/27/el-presidente-de-mexico-conoce-el-plan-privado-para-producir-litio-en-sonora/
https://www.youtube.com/watch?v=HVUnknlPxPM&feature=youtu.be
Presentation on the 28th
https://www.proactiveinvestors.co.uk/register/event_details/219
https://www.proactiveinvestors.co.uk/register/event_details/219
https://twitter.com/DoubleOD2/status/1162291620794032129?s=20
Bacanora Lithium (LON:BCN) has provided an update on the previously announced proposed investment by Ganfeng Lithium. Three approvals are required from the Chinese authorities and the first of these has been received from the PRC Ministry of Commerce with two now outstanding. Ganfeng are continuing to progress through the regulatory process and we believe that this initial approval, combined with Ganfeng’s prior track record in gaining approval for overseas investment confirms our positive view that all necessary approvals will be completed.
Although the shares are up 88% YTD, trading in a new higher range following the proposed investment announcement, we continue to believe there is considerable further upside potential with the remaining approvals providing near term catalysts. Our target price, which includes assumptions for the project financing, assumes a risking of 0.6x P/NPV which we believe is fair for a project with financing and commissioning risk. However, successful completion of the financing along with Ganfeng’s technical support will, in our view, further unlock that remaining value. Based on our analysis we believe that the shares are currently trading on c0.1x NPV highlighting that despite the support from Ganfeng, which will strengthen the BCN’s ability to fully finance the Sonora project the shares continue to offer an attractive opportunity for investors at this point.
We reiterate our Buy recommendation and 114p target price.
https://www.proactiveinvestors.co.uk/columns/vsa-capital-market-movers/31108/vsa-capital-market-movers---bacanora-lithium-31108.html
The Chinese company Ganfeng Lithium seeks to invest in Sonora through the company Bacanora Lithium, opening the possibility to a greater supply chain of this mineral for the electric car industry in Mexico.
Bacanora Lithium announced that the Chinese mining company Ganfeng Lithium acquired 29.9% of the project they maintain in Sonora . Ganfeng Lithium is one of the largest lithium producers in the world, and one of the main suppliers of this raw material for automotive manufacturers that produce electric car batteries.
The Chinese company was looking for a supply chain in Mexico, due to the proximity to plants where electric cars are assembled like in Arizona and California.
This investment positions Sonora as the first lithium producing state in Mexico, with the expectation of being among the largest in the world for the next decade.
In this first stage , 420 million dollars will be invested, which will generate 1,200 indirect jobs for construction and 260 direct jobs for the operation of the mining company. Expansions are contemplated as early as 2021, with an additional investment of 380 million dollars and 230 additional direct jobs.
Ford will begin to produce electric cars by 2020 , so this investment could open the door to a local commodity supply chain and a manufacturing chain for EVs in Mexico , at a time when most OEMs are looking to transform its combustion models to electric.
https://www.clusterindustrial.com.mx/noticia-detalle.php?noticia=1507
HERMOSILLO, SONORA. MX. - Bacanora Lithium announced that the Chinese company Ganfeng Lithium acquired 29.9% for the project in Sonora, Mexico, said Jorge Vidal Ahumada.
The economy secretary said that the mining company pointed to Ganfeng Lithium as one of the largest lithium producers in the world, and they were looking for a supply chain in Mexico, and it is specifically in Sonora, where they want to invest.
A few days ago, Vidal Ahumada met with businessmen from Bacanora Lithium, who informed him of the intention of the Chinese company to invest in the Sonora Lithium project, from which several products of this strategic mineral of high demand for modern life will be obtained.
"The trust generated by the government of Claudia Pavlovich Arellano allows more foreign investors to turn to Sonora to land their projects," said the Minister of Economy.
The state official added that this project will position Sonora as the first producing state of Lithium in Mexico, and it is estimated that by the year 2020 the entity will appear on the world map of lithium producers.
He recalled that in the first stage of the company Sonora Lithium will invest 420 million dollars, generating one thousand 200 jobs in its construction and 260 in its operation.
Within its plans for the expansion stage, contemplated for 2021, an additional investment of 380 million dollars is projected, in addition to increasing to 490 employees, he added.
Currently they make adjustments to the construction budgets between Bacanora Lithium and the company ICA Flour, contracted as EPC (Engineering, Procurement and Costruction), for the construction of the plant 10 kilometers from the town of Bacadéhuachi.
The Secretary of Economy said that 95% of the workforce of this mine will be Sonoran, because they recognize the high degree of specialization of human capital in the technical development, he said.
This investment project brings as a main market the automotive industry of electric cars that are manufactured in Arizona, he said.
http://www.sonoraenequipo.com.mx/empresa-china-invertira-en-proyecto-sonora-lithium/