The Mexican government is preparing new legislation to boost private lithium production in the country as part of a strategy that would integrate lithium production with the country's powerful automotive industry. as part of a strategy that would integrate lithium production with the country's powerful automotive industry. Mexico awarded concessions for lithium exploration in the state of Sonora a decade ago. Of the 10 firms awarded projects, 3 are active, including Ganfeng Lithium, the world's third largest producer of lithium compounds, which has projects in Argentina. Mexico's bid for lithium makes a lot of sense. As part of the renegotiated free trade agreement with the U.S. and Canada, within three years 75% of automotive components manufactured in these countries must have 75% local content, including lithium batteries. "It is not only about lithium extraction, we are looking at how to design a comprehensive project for Mexico to successfully insert itself into a value chain," said Tatiana Clouthier, Secretary of Economy, during the meeting of the International Trade Commission of the Mexico-US-Canada Agreement (T-MEC) in May, according to Expansión magazine.

Source: Statista