RE: Mexico looks to buy out existing additional rights held by UK exploration giant Bacanora.23 Aug 2022 23:03
I would hope so @EV_Bull,
Has this been posted before, it's prior to Ganfeng completing the BCN purchase, but technically we still have a British interest?
https://www.bilaterals.org/?t-mec-an-obstacle-to-lithium
For Jorge Molina Larrondo, international trade specialist at TEC de Monterrey, we will have to be very attentive to the six-year T-MEC review, as Mexico’s partners will surely want to be stricter.
“By including Section 10 of the Mining Act that the lithium value chain will be exclusive to the Government of Mexico, a window is opened for the United States, and above all, Canada, to challenge this article,” he said.
In the case of the project in Bacanora, Sonora, it has British involvement, so if the government wanted to confiscate it, it wouldn’t be so easy. “Mexico has signed an agreement with the United Kingdom, and it will expire until 2031, so the government must respect this agreement, otherwise it will also mean getting into trouble with the European Union,” he said.
Also worth a read, a little error though US approval is $billions:
Only that the US President managed to get Democrats and Republicans, from the House of Representatives and the Senate, to approve 370,000 million dollars to reduce greenhouse gases by 40% between now and 2030.
https://mexico.detailzero.com/news/102446/Mexico-and-the-US-on-two-different-paths.html
That $7,500 subsidy could be the end of any Mexican EV or battery production and I wouldn’t imagine the likes of Ford want to hang around to find out!
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