Mexico City, April 21st, 2022.
On April 20th, 2022, the Mining Bill was published on the Mexican Official Gazette (Diario Oficial de la Federación) adding and amending several provisions to the Mining Law (Ley Minera) to regulate the exploitation and utilization of lithium (the "Mining Bill").
The Mining Bill amends articles 1, 5, 9 and 10 of the Mining Law, pursuant to which:
- Lithium exploration, exploitation and use will be exclusively reserved for the Mexican state, and therefore no concessions, licenses, contracts, permits or authorizations will be granted.
- All lithium exploration and development will be the responsibility of a decentralized public agency (organismo público descentralizado) to be set up.
- The Mexican Geological Service (Servicio Geológico Mexicano) will be in charge of locating and recognizing geological areas where there could possibly be any lithium reserves.
- The Mining Bill bans all private participation in the exploration and mining of lithium, which elevates to the category of "strategic mineral".
The Mining Bill will become effective the day after its publication in the Federal Official Gazette, and the Mexican President will issue the corresponding instrument for the creation of the new decentralized public agency, within 90 business days after the Mining Bill becomes effective.
The Infrastructure and Administrative practices of the firm will be pleased to provide any information regarding the content of this document.
Sincerely,
Juan Carlos Serra
serra@basham.com.mx
Rodolfo Barreda
rbarreda@basham.com.mx
Pablo Nosti Herrera
pnosti@basham.com.mx
Pablo Chevez Gallegos
pchevez@basham.com.mx
Fernando Osante Kretchmar
fosante@basham.com.mx
Rodrigo Alfonso Ruiseñor Núñez
aruisenor@basham.com.mx
