EconomyThe Ministry of Economy clarifies why the Geological Service...

The Ministry of Economy clarifies why the Geological Service will not generate resources for lithium

The Mexican Geological Service (SGM) does not exploit minerals, so it does not generate economic income for said activity, the Ministry of Economy (SE) reported this Friday.

“The potential value of 12 billion pesos calculated by the Treasury, derived from the nationalization of lithium and the attraction of the value chain to Sonora, is a medium-term estimate,” the agency clarified in a statement.

The decentralized public body Lithium for Mexico (LitioMx) will be in charge of exploiting lithium and will report to the Ministry of Energy, not the Economy or the SGM, the document reads.

The Mexican Geological Service does not generate income from the exploitation of minerals, since it does not extract, process or transform them for sale, it only generates geological, geophysical, and basic geochemical information on Mexico, which it discloses on its website for free.

In addition to Sonora, Mexico also has lithium deposits in Chiapas, Chihuahua, Coahuila, Durango, Guanajuato, Hidalgo, Jalisco, Michoacán, Morelos, Nuevo León, Oaxaca, Puebla, San Luis Potosí, Sinaloa, Tamaulipas, Veracruz and Zacatecas.

Sonora, Puebla and Oaxaca with the entities with which the Mexican Geological Service has found more localities with lithium manifestations.

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The lithium value chain, which can be detonated from the exploitation of deposits in Mexico, has a potential value of 12 billion pesos.