As worldwide demand for the metal needed to build electric vehicle batteries soars, the Mexican government has established a state-owned firm to produce and market lithium.
According to a proclamation made by Mexican President Andres Manuel Lopez Obrador, as the need for raw lithium for use in the electric car industry develops, the state-owned company Letio Parra Mexico will produce and market only Mexican lithium.
The company, Litiomix, will be run independently of the Mexican Ministry of Energy and will begin operations within the next six months.
Furthermore, in April, Mexico altered its mining legislation to allow the nation to unilaterally discover, develop, and export lithium resources.
Although lithium is not yet mined in Mexico, the government has granted lithium production licences, and contracts for these licences are currently being assessed.
According to a marketing study, lithium use is expected to more than fivefold during the next 35 years.
Mexico establishes a company to manage the production and distribution of lithium.
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