AmLo may be the smartest socialist in the world. This is the fifth or sixth major decision his government and/or party has made that surprises to the upside.
From Reuters via FX Empire:
Exclusive: Mexico Now Ready to Welcome Private Lithium Miners
MEXICO CITY (Reuters) – Mexico’s leftist ruling party has dropped plans to nationalize lithium production and is now pushing to welcome private investors to help develop the country’s potential in the metal used to make batteries, the senior lawmaker behind the proposal told Reuters.Mexico, a major copper and silver producer, is home to large potential reserves of lithium, used in electric vehicle (EV) batteries. Most of it is in hard-to-tap clay deposits that are costly and technically difficult to mine.
After touting the possibility of a state-run lithium monopoly late last year, Sen. Alejandro Armenta, chairman of the upper chamber’s finance committee and a key ally of President Andres Manuel Lopez Obrador, said he will instead author a bill to promote a regulated marketplace in the nascent sector.
“We’re convinced that we need private investment and we’re allies of domestic investors and also foreign investors who respect us,” said Armenta, attributing his new posture to having studied regulatory frameworks for lithium in other countries....
....MUCH MORE
