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Https://www.reuters.com/markets/commodities/miners-including-chinas-ganfeng-launch-arbitration-case-against-mexico-over-2024-06-24/

A good link showing the ICSID status that also has the BIT documents:

https://www.italaw.com/cases/12371

The two law firms look to be top tier White & Case are a global top 10 ranked

https://www.law.com/international-edition/law-firm-profile/?id=321&name=White-%26-Case

Creel García-Cuéllar Aiza and Enríquez S.C

The Firm is recognized as one of the leading banking and finance law firms in Mexico

Thanks @Dallasdaz

I've sent to the a few industry watchers, see if we get some press coverage

Better than I thought, Ganfeng and Bacanora are challenging under both BIT's -

Instrument(s) Invoked:

BIT China - Mexico 2008,

BIT United Kingdom of Great Britain and Northern Ireland - Mexico 2006

Best news for a long while, I expect a tick up Monday on this news - well you all could help with some social media posting to industry commentators news outlet!

Thanks for the post @Witty -

Good news as we should just take a back seat!

For those interested: UK Mexico BIT June 2006

https://assets.publishing.service.gov.uk/media/5a74ba5ae5274a3cb2866b4c/6860.pdf

@Witty, we have separate BIT agreements as I posted in the week the process is 6 months, plus 90 days so Ganfeng are working to that, we should be in the same timeframe late July.

Good news though that I have been expecting to be announced, especially with the interest in EV's in Mexico from the likes of BYD, Durazo improving the port including deepening (Ford tested a shipment recently) plus BYD have their own vessels with 7,000 capacity.

Ganfeng Bacanora:

https://icsid.worldbank.org/cases/case-database/case-detail?CaseNo=ARB/24/21

I hope this gets some press, remember A_L.O said news by September:

President López Obrador says that the availability of Mexico's lithium reserves will be known before September, highlighting promising advances in CONAHCYT's technique for extracting lithium from clay. Despite government optimism, skepticism persists among experts about the government's ability to boost the lithium industry.

BYD looking at the biggest ev factory in NA with 10,000 employees to be announced this year - not new news but has been doing the rounds again this week, I do wonder if BYD would be better off with Ganfeng doing their mining in NA ad they concentrate of battery and EV production.

Ganfeng want to supply globally, I don't see them giving up Sonora without a fight, could be A_L.O takes up their plans to have the lithium industry as part of his legacy.

Ganfeng's Wang gave an interview win Benchmark a couple of weeks back, nothing on Mexico:

https://youtu.be/xY9KOq3fiGk?si=R-V71qEaiRQgWIx9

That's an odd statement from Alfonso Durazo:

“It is necessary to complement the law with regulations to know more precisely how private companies could participate,” he declared.

Considering his stance over the last year, are they seeing the light of day?

Remember!

In January 2022, the Government of Serbia cancelled the spatial plan for the Jadar lithium-borates project and revoked our licences related to the proposed lithium-borates project.

We believe the Jadar project has the potential to be a world-class asset that could act as a catalyst for the development of other industries and tens of thousands of jobs for current and future generations in Serbia, while sustainably producing battery-grade lithium carbonate, a material critical to the energy transition.

We are focused on consultation with all stakeholders, including providing comprehensive factual information about the project. We believe that a public dialog based on facts is necessary to ensure that all options related to project’s future are considered.

We are also long-term landowners and have made commitments to the community and suppliers. We will continue to honour our obligations despite our permits and licenses being cancelled.

4 days ago:

Serbia set to give green light to Rio Tinto lithium mine

https://www.ft.com/content/2bd0d74e-ff22-442e-8be1-1250fe4bf826

I'm not so sure people got the story that wrong, BYD sponsoring the Euros, lithium projects taking off, just back from a long drive along the M1 and lost count of the commercial vehicles boasting they are electric, so the reason why I invested in the first place was for the right reasons, the outcome of course is yet to be concluded an unfinished chapter in a book with a few missing pages.

I'm not writing Sonora off just yet!

https://money.usnews.com/investing/news/articles/2024-06-18/ford-tests-shipping-cars-from-mexicos-guaymas-port-to-cut-logistics-costs

Sonora still has so much potential for the full battery supply chain, who knows lithium might still be exported form the port, it can have gone unnoticed Chile, Argentina, Bolivia, Brazil all getting lithium, battery and EV plants with government interest in projects:

https://www.mining.com/japan-chile-boost-ties-in-lithium-extraction-supply/#:~:text=Japan%20and%20Chile%20have%20agreed,in%20Chile%20and%20transferring%20skills.

The federal government's Sonora Plan also hopes to take advantage of the state's lithium resources, thought to be Mexico's largest.

Remember A_L.O tried to form an OPEC equivalent with the SA countries on lithium and now Mexico stands alone with no production on the horizon - Ganfeng could be producing within 18 months, plus Mexico have a need for battery storage that could be home produced with the right partner.

Looks to be similar the UK Mexico BIT:

Almaden initiated the six-month consultation period required under the CPTPP on December 13, 2023. Mexico agreed to hold one consultation meeting, which took place on May 30, 2024, but it did not result in an amicable resolution of the Company’s investment dispute. The Company filed notice of its intention to submit a claim to arbitration against Mexico under the CPTPP on March 14, 2024, triggering a 90-day notice period prior to filing. With this notice period now over, the Company has filed its Request for Arbitration with ICSID.

We might also hear on international arbitration, if we can afford the legal costs I would imagine!

3. An investor may not submit the dispute for settlement by arbitration pursuant

to this Article unless six months have elapsed since the events giving rise to the

claim took place.

4. A disputing investor may submit the claim to arbitration under:

(a) the Convention on the Settlement of Investment Disputes between

States and Nationals of other States (“ICSID Convention”)1, provided

that both the disputing Contracting Party and the Contracting Party of

the investor are parties to the ICSID Convention;

(b) the Additional Facility Rules, of the International Centre for Settlement

of Investment Disputes (“ICSID”), provided that either the disputing

Contracting Party or the Contracting Party of the investor, but not both,

is a party to the ICSID Convention;

(c) the Permanent Court of Arbitration Optional Rules for Arbitrating

Disputes between two Parties of which only one is a State (“PCA Rules

of Arbitration”); or

(d) any other arbitration rules, if the disputing parties so agree.

This company is going ahead against the Mex gov:

Almaden Minerals (TSX:AMM) has decided to drop its domestic legal action against Mexico and launch an international arbitration case over a mineral application dispute.

https://mining.com.au/almaden-takes-mexican-precious-metals-fight-international/

In seven months as all I recall being mentioned of TCIDR is they have agree the split for debt financing is 80% nothing to say its in place, I do wonder how much clout TCDIR have in which financing partners will be allowed to join the project - as the old saying goes from our perspective 'beggars cannot be choosers'

Project Financing

Under the MOU, TCIDR will use its best commercial efforts to secure the required financing for the construction and re-development of the Amapá Project, including the necessary guarantees, project finance insurance and debt financing. In this regard, TCIDR is in discussion with SinoSure China Export & Credit Insurance Corporation and China Development Bank.

PBA, DEV and TCIDR will now develop a roadmap to seek to secure the financing for the DFS and subsequent project financing for the Amapá Project, and a fixed price EPC contract between DEV and TCIDR that will have the project finance, export credit insurance and credit support by TCIDR.

@Themage,

You have been holding for years, you must be aware of the Mexican gov and their desire to hold the keys to the $600bn sweet shop.

Sonora should have been in production by now!

@Zoom56,

you might recall A_L.0 invited XI to see the Sonora plan last November - there never was a response, I think there's a possibility that the clown was so misguided no one was prepared to entertain him with his term ending in September 2024.

Alfonso Durazo has been doing the rounds trying to get investment and nothing indicating investment in lithium mining seems to be on the horizon.

I'm not overly confident in the new elected president 'to be' as she has throughout the last year or so been singing from the same hymn sheet as A_L.0 - but could be to get the voters on her side.

Still Sonora is the Saudi of lithium and recent news seems to show a great deal of interest in lithium - Chile are getting greedy from the state perspective.

And big oil taking an interest:

https://www.investors.com/news/warren-buffett-berkshire-hathaway-energy-occidental-lithium/

An added bonus is Trump is looking like he will never see the Whitehouse again from the inside, so no reversing the inflation reduction act and taking backhanders from big oil.

Expressing interest from the US and China so close to the election results.

https://www.globaltimes.cn/page/202406/1313614.shtml

Wang said that Mexico possesses abundant lithium resource and faces a need for a green transformation in its petroleum and petrochemical sectors, which creates opportunities for cooperation between China and Mexico in mineral resource development and energy transition.

https://www.politico.com/news/2024/06/03/mexico-president-sheinbaum-california-climate-00161389

Garcia, who as chair of the Assembly Select Committee on California-Mexico Bi-National Affairs is hosting a hearing Wednesday on education and economic opportunities, said he sees an opportunity to expand cooperation on electric vehicles, particularly around lithium production. Sheinbaum has highlighted the state of Sonora’s lithium-rich clay deposits as ripe for extraction.

@Zoom56,

Xóchitl Gálvez, she would have been my choice being more aligned with private investment.

Opposition candidate Xóchitl Gálvez has warned that the legal dispute "is going to end badly" for the country, and lamented that two years after the legal reform that nationalized the white metal and led to the creation of state lithium company LitioMx, not a single gram has yet been extracted.

https://www.bnamericas.com/en/news/mexican-presidential-frontrunner-advocates-national-tech-to-extract-lithium

Still come September AMLO will have to handover the keys to the sweetshop - will the reality that Ganfeng are his best chance to see his legacy as the one who launched Mexican swing his past decisions?

Narcissist/Legacy - AMLO wants his name on Lithium!

President López Obrador says that the availability of Mexico's lithium reserves will be known before September, highlighting promising advances in CONAHCYT's technique for extracting lithium from clay. Despite government optimism, skepticism persists among experts about the government's ability to boost the lithium industry.

https://mexicobusiness.news/mining/news/mexicos-lithium-availability-be-known-september-president?tag=mining

I got a trade price of 3.5p for 300,000 late this afternoon, NT above - you shouldn't be surprised at my change of view it's ten years this month for me -

@Struv5,

I'm sure EMH sinking to 12.5p has a great deal to do with it, I was hoping that KM would follow up with an explanation - I'm not sure any answer would restore any degree of confidence,

Unfortunately @MJFMSG as things appear at this moment in time the bod seems to have reduced us to a company on its knees or a least the last cash raise paints such a picture and for any potential investor looking for an interest in Amapa weakens our bargaining position, well that's how I see it with one eye on EMH to see if we sell down to raise cash.

There lies the problem if we are dependent on EMH coming good short term then why hold in KDNC?

Of course the dilemma now is any project news will be treated with scepticism unless it covers securing project finance, I would like to know the explanation on the timing with that 1% increased stake, and of course we now have the legal bills for the Sonora challenge whatever and whenever they need to be covered.

And of course we know talks are ongoing with investors in Amapa including mining companies, I doubt any news on technical project developments will move the SP.

I sincerely regret watching the last two stockbox videos with KM and that confident demeanour has cost me.

Indeed @ghin I could fill the board with other reasons A_L.O has attempted and still is to steal the concessions - banning open pit mining the latest, he might use water shortage/ environmental excuses and then just go ahead and deploy the army so none of those apply - however if you look at other clay projects in the US they aren't going to plan and so I don't think you will see anyone taking on a Mexican project given the commercial and technological plus the antics that Morena have used - Thacker Pass is still raising cash and the next Nevada clay project isn't having a good time with a 30% drop yesterday

https://www.mining.com/century-lithium-shares-down-despite-clayton-valley-project-feasibility-milestone/

I think Ganfeng were the best option for the Mex gov - they would likely have been producing around about now and maybe a battery plant under construction - I hope we and Ganfeng continue to international arbitration.