A lithium field. Photo: Oil Price

By THE PULSE NEWS MEXICO STAFF

Mexican President Andrés Manuel López Obrador (AMLO) said Thursday, Sept. 23, that his government is preparing a reform in the matter of national lithium extraction and commercialization.

During his daily morning press conference, AMLO said that the reform could be included in the initiative on the electricity industry, which he expected to be sent to Congress no later than next week.

“Regarding the matter of lithium, it will be presented next week at the latest, along with the reform initiative for the electricity industry,” he said.

“We are now considering whether the electricity initiative will include the lithium reform or if that reform will be presented separately.”

Lithium, used in the production of cell phones and electric car components, is a highly prized metal derived from salt deposits and volcanic rocks.

Under Mexican law, all minerals and metals are the property of the state, so lithium extraction would not need to be nationalized.

On March 24, López Obrador said that his administration was analyzing the possibility of increasing the state’s participation in the exploitation of lithium.

Notwithstanding, the country does not currently have the knowhow and technology to commercialize the mineral, and investment in the industry could prove very costly.