Mexico values its Sonora lithium deposits at $600bn. lithium miningnews
While the ultra-light white metal is typically extracted from rock or brine deposits, lithium in Sonora is mostly trapped in clay soils, from which it has not yet been mined on a commercial scale.
President Andres Manuel Lopez Obrador has urged the private sector to work with the new state miner, saying the size of the investment needed means the government needs partners. But analysts argue that companies are more likely to focus near-term investments in Chile or Argentina’s sprawling salt flats, where industries are more established and policies more market-friendly.
The massive projected lithium demand should, however, eventually draw interest to Mexico, they added. “We have a product which can define what will happen with the world’s energy,” Bolivia’s Mexico ambassador Jose Crespo said in a statement published on Thursday.Though Mexico does not currently produce the metal, the finance ministry estimated the Sonora reserves could add some 0.3 percentage points to potential GDP in the medium-term.
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