Mexico Will Create A State-Owned Company For Lithium Production

Above Photo: The Mexican government has promoted that part of the profits in the energy sector be generated through national production in order to advance efforts toward economic sovereignty. Twitter/@SENER_mx.

Mexican authorities highlighted the use of lithium as an essential raw material for the manufacture of batteries.

The government of President Andrés Manuel López Obrador plans to create a state-owned company for the exploration and exploitation of lithium, announced the Secretary of Energy, Rocío Nahle.

In an interview to local media, the official highlighted on Wednesday that “lithium is a strategic mineral,” and gave as an example its use as a “raw material for the manufacture of electric batteries.”

According to Nahle, this state-owned company would be established in the secondary law of the energy reform proposed by the Mexican president. “It is going to pass for the exploitation of lithium,” she emphasized.

She also made reference to the expropriation of oil that occurred during the government of Lázaro Cárdenas (1934-1940). “That decision, for eight decades, gave us wealth, schools, hospitals, roads, gave us preparation, essence, etcetera; with lithium it is going to be the same, without a doubt, and I believe it is going to be faster.”

The construction of a state company for the exploration and extraction of lithium is proposed within the framework of the energy reform promoted by the Mexican head of state, whose main objective, according to President López Obrador, is to benefit the people rather than multinational corporations.

The Mexican government has promoted that part of the profits in the sector be generated through national production in order to begin on a path towards economic sovereignty.