EconomyFinancialMexican government publishes decree to create the state company...

Mexican government publishes decree to create the state company LitioMx

The federal government published a decree in the Official Gazette of the Federation announcing the creation of the state company Litio for Mexico, whose acronym will be "LitioMx".

This new company will be a decentralized public body grouped in the sector coordinated by the Ministry of Energy, with its own legal personality and assets, with technical, operational and management autonomy.

The programming, budgeting, control and exercise of federal public spending corresponding to Lithium for Mexico, will be subject to the provisions contained in the Federal Budget and Treasury Responsibility Law, in its Regulations, in the Expenditure Budget of the Federation for each fiscal year. , and in the other applicable provisions.

The creation of this company occurs after the declaration of lithium as a mineral that can only be exploited by the State. This implies the refusal to grant more concessions and the prohibition of the participation of private capital in the exploitation and commercialization of the mineral.

Last week, the Secretary of Energy, Rocío Nahle , revealed in a tweet that Lithium for Mexico would be the name of the new state company that will focus on the exploitation of lithium, a resource that the Mexican government has called "strategic."

More information in development…

Moody's advice: do not use the same model for lithium as in Pemex

A state government is not necessarily a bad idea, but the results will depend on the flexibility of the federal government and not making decisions that favor political issues, says the agency.

AMLO recognizes that he will need private initiative to start LitioMx

Just a few days after creating the state body, the president has recognized that the state would not have the financial or technical resources for his project.

AMLO "uncovers" Pablo Daniel Taddei as the new director of LitioMx

The announcement occurs a day after the president announced that the headquarters of the new state agency will be in Sonora.

Last Minute: AMLO chooses Sonora as the headquarters of the new state body LitioMx

The new headquarters seems like a natural choice, since the largest lithium reserve that has been identified in the country so far is located in the northern state.

LitioMx: how long will it take for the presidential project to take off?

Bolivia, the closest example to what the Mexican government is trying to do, accumulates around a decade trying to produce the mineral with very few results.

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