Mexico taps into lithium to power foreign investments

Isidro Tellez Ramirez, a researcher at the Economic Research Institute UNAM, says its deposits "place Mexico among the ten countries with the potential to produce lithium in the coming years".

The US' loss of "hegemony" to China amid the geopolitical dispute has driven lithium producers to set up across Latin America to meet the demand of the US electric car industry, which Tellez Ramirez says has allowed Mexico to position itself as "a potential producer". Between 1982-2018, the sector received multiple benefits from “the declaration of mining as a preferential activity over any other ; the elimination of any geographical limit to mining concessions; the validity of mining concessions for 50 years with the possibility of renewal for the same period and paying a fee that does not exceed 7 dollars; the facility to repatriate the profits obtained by foreign companies without any tax, especially those coming from the signatory countries of the USMCA.

However, with drought impacting the region, there are environmental concerns despite numerous laws, regulations and commitments.

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