RE: More interest18 Nov 2021 13:26
Looks like the JV areas are very safe with the Mexican government reforms, but 200,000 jobs must be a typo!!
https://dialogochino.net/en/extractive-industries/48500-mexico-lithium-nationalisation/
Another concern raised by the president's announcement is that his reforms directly contradict the new United States-Mexico-Canada Agreement (UMSCA) free trade agreement. The American Chamber of Commerce of Mexico (AmCham) and a group of 40 US congressmen argue that private companies in the energy sector would be excluded under the new reform.
On 3 November, the US Ambassador to Mexico, Ken Salazar, met with Mexican officials to express the same concern. On the same day, Mexico's parliamentary leaders and legislators announced that the approval of López Obrador's electricity reform will be postponed to April 2022.
But a local outlet reported that the majority of people in Bacadéhuachi are expectant about the possibility of 200,000 jobs that Bacanora Lithium has promised, which could represent a better future for a community that is currently struggling to make ends meet.
Despite the various concerns and uncertainties, work to move operations in Sonora forward is ongoing. Flor de María Harp, director of the Mexican Geological Survey (SGM), a government agency, announced that the organisation will invest 55.2 million pesos (US$2.52 million) for lithium exploration, in order to gain hard data on the amount of the mineral present, and thus confirm that its extraction is economically viable.
I still can't belive there's doubt on the extraction viability, this is why Ganfeng have likely picked up BCN for a song!
I also added this week -
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