Member Info for jimb2

I know there was talk of 9 concession / 10 concessions, I was only focused on the short term and there were other players looking at areas bordering Megalit -

Rockland Resources Ltd. (the “Company” or “Rockland”) (CSE: RKL) is pleased to announce it has signed an option agreement to earn a 100% interest in the very strategically located Elektra (“Elektra Project”) claystone lithium project located in northern Sonora, Mexico, contiguous to the advanced Sonora Lithium Project (“Sonora”) owned, and being developed, by Bacanora Lithium Plc (“Bacanora”) (50%) and Ganfeng Lithium Co., Ltd. (“Ganfeng”) (50%).

Worth a look at the link to see how prospective the area might have become:

https://resourceworld.com/rockland-resources-acquires-the-elektra-claystone-lithium-project-in-sonora-mexico/

I won't miss it, I'm not anticipating I will have that much interested in Sonora in 2044, now who has copies of the PFS?

Can anyone use that data if we lose the ICSID!

We have an interest!

I thought as Peter Secker explains that we had 5%-6% of the first planned mined pit (20 years) adjoining La Ventana, if of course Ganfeng plans were that of BCN

https://youtu.be/e3yTED79Dhg?si=1JG6vlfk-phAks8z&t=1351

In accordance with Article 10 of the BIT, Cadence and REMML have requested consultations and negotiations with Mexico to resolve the dispute amicably. The BIT provides for disputes to be resolved by international arbitration if they cannot be resolved through consultation and negotiation.

The affected concessions include those granted to Mexilit S.A. de CV (“Mexilit”) and Minera Megalit S.A. de CV (“Megalit”), which are joint venture companies in which Cadence holds a 30% stake through REMML.

The Sonora Lithium Project and Details of Cadence Ownership

The Sonora Lithium Project consists of nine granted concessions. Two of the concessions (La Ventana, La Ventana 1) are owned 100% by subsidiaries of Ganfeng Lithium Co., Ltd (“Ganfeng”). El Sauz, El Sauz 1, El Sauz 2, Fleur and Fleur 1 concessions are owned by Mexilit S.A. de C.V. (“Mexilit”), which is owned 70% by Ganfeng and 30% by Cadence. The Buenavista and San Gabriel concessions are owned by Megalit, which is owned 70% by Ganfeng and 30% by Cadence.

Yes, @Dallasdaz,

but the other concessions are identified as the sweet spot, if my understanding is correct and *Megalit* is outside what is defined as the Sonora Project by Bacanora.

Yes, @Dallasdaz,

but the other concessions are identified as the sweet spot, if my understanding is correct and outside what is defined as the Sonora Project by Bacanora.

It sounds like they have no time to waste, just two weeks since Sheinbaum took office with energy and the Sonora plan appearing to be number one on the agenda so far - nothing to say they are in talks with Ganfeng or intend to (as was hinted at in June) but nothing will happen in Sonora without plenty of press coverage that just might also get a response from China.

I'm not so sure they will have battery production capability without the backing of Chinese companies, plus I'm not sure if any development on the cancelled concessions can go ahead with a dispute in place?

How many battery manufacturers' are looking at Mexico for production with locally sourced lithium?

Of course if the US decides they want to dictate who can operate lithium and battery production in Mexico then that might be deciding factor: Still I would hope the Mex gov see Ganfeng as the best option.

Making the right noises!

https://mexicobusiness.news/energy/news/sheinbaum-promote-private-investment-energy-ebrard?tag=energy

Recognizing the urgent need for energy investment, Claudia Sheinbaum will unveil a plan on Oct. 15 at a forum with US and Mexican CEOs, emphasizing the private sector’s key role in industrial development and paving the way for expanded investment opportunities.

Recognizing the need for increased investment, Ebrard has prioritized creating a business-friendly environment in Mexico. “Connecting closely with CEOs is essential. We must provide them with the right information to support their decision-making. Building trust and nurturing strong relationships is critical. We aim to collaborate more closely with them over the next six years to achieve our primary objectives,” he stated.

Ebrard also highlighted the administration's goal to reduce dependence on imports from China and other Asian countries while avoiding tariffs on Mexican exports. This issue has been emphasized by Republican presidential candidate Donald Trump, who criticizes the flow of Chinese goods into the United States through Mexico. Under Joe Biden’s administration, the US trade office has urged Mexico to avoid becoming a conduit for low-cost Chinese products, making this a priority for Mexico’s trade strategy. “We must make rational decisions regarding competition with China to prevent disorganized tariff policies among Mexico, Canada, and the United States,” Ebrard concluded.

Https://www.goldmansachs.com/insights/articles/electric-vehicle-battery-prices-are-expected-to-fall-almost-50-percent-by-2025

good EV sales in the US and China

@tomcat-14,

indeed it's the weakest excuse, maybe more news on their plans to produce lithium or private investment:

https://latamobility.com/en/sheinbaum-announces-production-of-an-electric-vehicle-made-in-mexico/

The summit will feature a series of panels and thematic presentations that play a leading role in the advancement of sustainable mobility, decarbonization, the circular economy, and renewable energy , as well as outstanding networking for the formation of key alliances on the path to zero emissions.

The event will take place from October 15 to 16 at the World Trade Centre in CDMX , Mexico.

And yes it could be that the claim is using the COVID period as their excuse, a look back.

https://m.miningweekly.com/print-version/bacanoras-mexico-lithium-project-faces-delay-2020-03-23

Because of this slow return to work, the Ganfeng test plant and project team have also resumed work on the Sonora flow sheet optimisation and process engineering, and while some weeks of engineering have been lost, completion of engineering and equipment selection is now scheduled for the third quarter of this year.

Ganfeng will, subsequently, provide Bacanora with an engineering, procurement and construction-style engineering proposal to produce downstream battery-grade lithium products from the Sonora lithium plant.

This schedule remains under regular review in relation to the ongoing Covid-19 situation and shareholders will be updated regularly as the engineering process develops, Bacanora confirmed.

"Bacanora and its partners have, like all companies, been affected by the Covid-19 outbreak and the resultant knock-on impact on businesses and the wider stock market. The health and safety of our employees, partners and local communities is without doubt our top priority during these uncertain times,” Bacanora chairperson Mark Hohnen and CEO Peter Secker commented in the statement.

Hohnen and Secker added that the company remained well capitalized, with more than $47-million cash in the bank and, together with its supportive shareholders and partners, “it is well positioned to withstand the continued effects of Covid-19

Any defence lawyers looking in, the mining reform were voted in using a COVID emergency session:

Firstly, the unconstitutionality of the decree is challenged due to certain irregularities detected in the legislative process, as, on April 20, 2023, the Chamber of Representatives held a "semi-presential" session, a method that was originally implemented due to the COVID-19 pandemic: however, given the current health context, there was no reason to continue with this modality. In other words, there were no emergency reasons or justifications alleged that would make it valid for the Chamber to gather in this way. This circumstance breaches the internal guidelines and regulations of the Representative’s Chamber.

@ghin

from your posted link:

There are some clay-encased lithium deposits in northern Mexico, which the government nationalized under the last administration. However, Sheinbaum said the techniques for mining that lithium weren’t currently commercially viable, and that production from those sources was “a little bit more long term.”

Odd as she has big plans to achieve in her six year term including $6bn a year to provide 45% of their energy needs from renewables - without battery storage?

If Ganfeng had the go ahead as originally planned they would likely have grid storage in production ow to provide their own needs using their own lithium and providing jobs and tax revenue.

****Under the new government, there has been a significant shift toward enhanced engagement with the private sector in lithium****

However, challenges persist, particularly with the ongoing legal dispute involving Ganfeng Lithium. The dispute stems from the approval of López Obrador's Mining Law in April 2022, which granted the State exclusive control of lithium exploration and production. Subsequently, López Obrador cancelled the concessions of the company, claiming that Ganfeng and its subsidiaries did not meet the required investment thresholds.

Sheinbaum emphasized that the conditions of the concession make it likely for Ganfeng to lose the legal dispute, given its inactivity in the area. “This lithium reserve should belong to the Mexican people. With the nationalization of lithium, it must be incorporated into the Sonora Plan project, which includes not only lithium exploitation but also significant development initiatives for the region."

I'll stick with my own view that talks will begin again shortly after the US election if not before, I am assuming the concessions are out of reach to any interested parties while the ICSID hearing is pending?

Mexican EV, it will be like a moped, she only has six years in office and no signs of a lithium project being underway.

The only battery producing Mexican factory I am aware of imports their lithium from China that's De Luna, they were convinced to build their factory in Sonora bur realised the supply of lithium would not be realistic so went to Mexico city.

https://mexicobusiness.news/mining/news/mexico-starts-lithium-battery-production-2023-ebrard-says

During the IX Pacific Alliance Business Summit, Ebrard announced that Mexico is prepared to receive lithium-related investments. To date, the country has agreed on funding coming from South Korea, China and the US, the latter as part of an agreement to produce lithium batteries in Sonora.

Ebrard did not discuss the exact amount of the coming investments, arguing that this is confidential information from private companies. However, he elaborated that those investments will materialize between 3Q23 and 4Q23.

Additionally, on Nov. 4, 2022, Sonora’s Minister of Economy, Armando Villa announced that the local government could relocate a lithium battery assembling plant that was meant to be constructed in Hidalgo. According to Villa, the factory will require an investment of over US$80 million and will be managed by a Mexican company called Luna as reported by MBN.

Almost two years on and no investments announced! - who would invest in Sonora reflecting on the governments treatment of Ganfeng?

BYD still holding out for the US election results so I would imagine others are, despite what they claim there is no way they are perfected a successful method of extracting lithium from clays - if they had there would have been a big press event with AMLO - even signing agreements with Argentina will lead nowhere as they have no experience with clays.

If you want to see it differently use your imagination and consider you had invested in the Mexican government and the Sonora plan lithium production three years ago!

As far as litigation goes and the amount, the only claim by the Mexican government now is the work done and that is strongly defended by Peter Secker and Ganfeng, the case should be straightforward and easily defended and I would hope the court awards a significant figure.

Now back to KDNC and our litigation..................................

I wonder if this is because they feel the ICSID is likely to go against them, although it's not clear if this is would apply to existing concessions?

https://finance.yahoo.com/news/mexico-sheinbaum-expand-power-over-161713255.html

The legislation also would eliminate lithium concessions and reserve the sector for the national government.

Who knows, I have my own view and that is Mexico cannot afford to be trailing the SA companies with lithium production and now with A_L.O out the way I hope they the see way forward includes resolving the Ganfeng issues:

Not forgetting Marcelo Ebrard has been involved with Sonora as foreign affairs minister:

https://mexicobusiness.news/mining/news/mexico-starts-lithium-battery-production-2023-ebrard-says

The Mexican Minister of Foreign Affairs, Marcelo Ebrard, announced that Mexico would start the production of lithium batteries in 4Q23, made possible by investment from the country's trade partners and Mexico's recently announced Sonora Plan.

During the IX Pacific Alliance Business Summit, Ebrard announced that Mexico is prepared to receive lithium-related investments. To date, the country has agreed on funding coming from South Korea, China and the US, the latter as part of an agreement to produce lithium batteries in Sonora.

Ebrard did not discuss the exact amount of the coming investments, arguing that this is confidential information from private companies. However, he elaborated that those investments will materialize between 3Q23 and 4Q23

If anyone has knowledge of any progress since that article in Nov 2022 please post - just wondering why battery manufacturing isn't happening in Sonora and no foreign investment announcements?

A big number!

Rio Tinto is to buy the US company Arcadium Lithium for $6.7bn (£5.1bn)

https://www.theguardian.com/business/2024/oct/09/rio-tinto-to-buy-us-lithium-producer-arcadium

First week and Sonora is very high on the agenda, not quite as assertive?

https://mexicobusiness.news/mining/news/sheinbaums-administration-develop-lithium-production-chain#:~:text=According%20to%20a%20US%20Geological,major%20player%20in%20lithium%20production.

Sheinbaum emphasized that the conditions of the concession make it likely for Ganfeng to lose the legal dispute, given its inactivity in the area. “This lithium reserve should belong to the Mexican people. With the nationalization of lithium, it must be incorporated into the Sonora Plan project, which includes not only lithium exploitation but also significant development initiatives for the region."

I did have a dabble myself years ago on and off but eventually grew suspicious with the ambiguous wording in their reporting.

I'm not so sure Observer842 lost money, if he followed his own inclination he may well have made a tidy packet!

Hoping he is still about and in good health!

Https://www.bloomberg.com/news/articles/2024-10-07/lithium-stocks-surge-on-rio-tinto-s-approach-to-buy-arcadium?srnd=homepage-europe

https://www.reuters.com/markets/commodities/serbias-parliament-debates-ban-lithium-mining-2024-10-07/

Https://www.riotinto.com/en/news/releases/2024/rio-tinto-confirms-approach-to-arcadium-lithium

This was something that stuck in my mind at the time of the interview six months ago and the reaction from the interviewer on Stock Box, he did make a point of fact checking the comments on engaging with stake holders.

https://youtu.be/5DTCChBU_fA?si=2qpsZnUN90Jkvh3R&t=703