It also declares 234,855 hectares (907 square miles) in Sonora as a mining zone known as Li-MX 1. "(Let's make) the nation be the owner of this strategic mineral," Lopez Obrador said during the event.
Mexico holds important potential lithium deposits, a highly
sought material for the production of electric vehicle
batteries.
Studies suggest Mexico may have some 1.7 million tonnes of
lithium. While close to a dozen foreign companies have active
mining concessions that aim to develop potential lithium
deposits, Lopez Obrador has said all of them will be "reviewed,"
which has cast a cloud over the sector's future prospects.
"What we are doing now ... is to nationalize lithium so that
it cannot be exploited by foreigners from Russia, China or the
United States," Lopez Obrador said at the event.
Last week, the chief executive of the state-run company for
lithium production, Pablo Taddei, told Reuters that Mexico was
open to partnerships but that the federal government would have
a majority stake in any future joint venture.
The decree published Saturday by the economy ministry said
that "the rights and obligations of the holders of mining
concessions in force that are within the lithium mining reserve
zone remain safe."
It adds that "no mining activity related to lithium" can be
carried out within the reserve but gave few additional details.
(Reporting by Carolina Pulice and Nelson Bocanegra; Additional
reporting by Valentine Hilaire; Editing by Jonathan Oatis and
Alistair Bell)
